Alyeska Investment Group L.P. Takes Position in Aligos Therapeutics, Inc. $ALGS

Key Points

• Alyeska Investment Group L.P. has acquired a new stake in Aligos Therapeutics, purchasing 412,000 shares valued at approximately $3.4 million, which constitutes 6.74% ownership as of the last reporting period.
• Despite a negative EPS of ($1.53) for the recent quarter, Aligos performed better than analysts' expectations, reporting higher revenue than forecasted.
• HC Wainwright initiated coverage on Aligos Therapeutics with a "buy" rating and a price target of $50.00, indicating potential growth for the company.

Alyeska Investment Group L.P. bought a new position in shares of Aligos Therapeutics, Inc. (NASDAQ:ALGS - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 412,000 shares of the company's stock, valued at approximately $3,399,000. Alyeska Investment Group L.P. owned about 6.74% of Aligos Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Heights Capital Management Inc. acquired a new stake in Aligos Therapeutics in the first quarter worth about $1,992,000. Adage Capital Partners GP L.L.C. raised its position in shares of Aligos Therapeutics by 43.1% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 465,000 shares of the company's stock valued at $3,836,000 after purchasing an additional 140,000 shares during the last quarter. Readystate Asset Management LP acquired a new stake in Aligos Therapeutics in the 1st quarter worth approximately $375,000. AlphaQuest LLC purchased a new stake in Aligos Therapeutics during the 1st quarter worth approximately $130,000. Finally, Northern Trust Corp acquired a new position in Aligos Therapeutics during the 4th quarter valued at approximately $205,000. 60.43% of the stock is currently owned by hedge funds and other institutional investors.

Aligos Therapeutics Stock Performance

NASDAQ ALGS traded up $0.17 during trading hours on Thursday, reaching $10.88. The stock had a trading volume of 41,530 shares, compared to its average volume of 70,667. Aligos Therapeutics, Inc. has a 52-week low of $3.76 and a 52-week high of $46.80. The stock has a fifty day moving average of $9.09 and a 200 day moving average of $8.16. The stock has a market cap of $66.91 million, a P/E ratio of -0.55 and a beta of 2.79.

Aligos Therapeutics (NASDAQ:ALGS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($1.53) EPS for the quarter, beating the consensus estimate of ($2.35) by $0.82. The business had revenue of $0.97 million during the quarter, compared to analysts' expectations of $0.43 million. Aligos Therapeutics had a negative net margin of 2,337.24% and a negative return on equity of 22.41%. On average, equities research analysts forecast that Aligos Therapeutics, Inc. will post -10.36 EPS for the current year.

Analysts Set New Price Targets

Separately, HC Wainwright started coverage on shares of Aligos Therapeutics in a research note on Monday, August 18th. They set a "buy" rating and a $50.00 price objective for the company. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $50.00.

Aligos Therapeutics Profile

Aligos Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapeutics to address unmet medical needs in viral and liver diseases. Its drug candidate, ALG-055009, a small molecule THR-ß agonist that is in the Phase 2a clinical trial for the treatment of non-alcoholic steatohepatitis (NASH).