ALT5 Sigma Sees Unusually Large Options Volume (NASDAQ:ALTS)

Key Points

• ALT5 Sigma Corporation (NASDAQ:ALTS) experienced a significant surge in call options trading, with 21,006 options purchased, reflecting a 401% increase from the average volume.
• Wall Street Zen downgraded ALT5 Sigma’s rating from "hold" to a "strong sell," indicating a negative outlook for the stock.
• The stock is currently down 25.8%, trading at $5.85, and has a notable trading volume of over 15 million shares on the day.

ALT5 Sigma Corporation (NASDAQ:ALTS - Get Free Report) saw some unusual options trading on Tuesday. Investors acquired 21,006 call options on the company. Thisrepresentsanincreaseof401% compared to the typical volume of 4,194 call options.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of ALT5 Sigma from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 16th.

Hedge Funds Weigh In On ALT5 Sigma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new position in shares of ALT5 Sigma during the 2nd quarter valued at about $380,000. Geode Capital Management LLC raised its position in ALT5 Sigma by 27.6% in the 2nd quarter. Geode Capital Management LLC now owns 194,813 shares of the company's stock valued at $1,412,000 after buying an additional 42,157 shares during the last quarter. Evernest Financial Advisors LLC acquired a new stake in ALT5 Sigma in the 2nd quarter valued at approximately $87,000. Finally, Bridgeway Capital Management LLC raised its position in ALT5 Sigma by 9.4% in the 2nd quarter. Bridgeway Capital Management LLC now owns 19,339 shares of the company's stock valued at $140,000 after buying an additional 1,661 shares during the last quarter. Institutional investors own 6.27% of the company's stock.

ALT5 Sigma Trading Up 13.4%

ALTS traded up $0.52 during midday trading on Friday, reaching $4.39. 18,847,896 shares of the company were exchanged, compared to its average volume of 18,418,196. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.88 and a quick ratio of 0.88. ALT5 Sigma has a one year low of $1.55 and a one year high of $10.95. The stock's 50-day simple moving average is $6.90 and its 200 day simple moving average is $6.58.

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.