ALT5 Sigma (NASDAQ:ALTS) Trading Up 3.6% - Time to Buy?

Key Points

• ALT5 Sigma Corporation shares increased by 3.6%, closing at $7.21 after hitting a high of $7.58 during trading.
• Hedge funds have recently shown interest, with Evernest Financial Advisors and Jane Street Group acquiring new positions totaling over $467,000 in the second quarter.
• The company focuses on developing non-opioid and non-addictive therapies for pain and addiction as part of its clinical-stage biopharmaceutical profile.

ALT5 Sigma Corporation (NASDAQ:ALTS - ) was up 3.6% on Thursday . The stock traded as high as $7.58 and last traded at $7.21. Approximately 16,346,218 shares traded hands during trading, an increase of 187% from the average daily volume of 5,702,763 shares. The stock had previously closed at $6.96.

ALT5 Sigma Price Performance

The firm has a fifty day simple moving average of $7.93 and a two-hundred day simple moving average of $6.58. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 1.45.

Hedge Funds Weigh In On ALT5 Sigma

Hedge funds have recently made changes to their positions in the stock. Evernest Financial Advisors LLC purchased a new position in shares of ALT5 Sigma in the second quarter valued at $87,000. Jane Street Group LLC purchased a new position in shares of ALT5 Sigma in the second quarter valued at $380,000. Finally, Geode Capital Management LLC grew its position in shares of ALT5 Sigma by 27.6% in the second quarter. Geode Capital Management LLC now owns 194,813 shares of the company's stock valued at $1,412,000 after purchasing an additional 42,157 shares in the last quarter. 6.27% of the stock is currently owned by hedge funds and other institutional investors.

ALT5 Sigma Company Profile

ALT5 Sigma Corp. is a clinical-stage biopharmaceutical company, which engages in identifying, acquiring, licensing, developing, partnering, and commercializing novel, non-opioid, and non-addictive therapies to address the large unmet medical need for the treatment of pain and addiction. It operates under the Biotechnology and Recycling segments.

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