Heights Capital Management Inc. Takes $1.99 Million Position in Aligos Therapeutics, Inc. $ALGS

Key Points

• Heights Capital Management Inc. has acquired a new position in Aligos Therapeutics, purchasing 241,500 shares valued at approximately $1.99 million, making it the 22nd largest position in their portfolio.
• Aligos Therapeutics recently reported a quarterly EPS of ($1.53), beating expectations, with revenue of $0.97 million, surpassing analyst estimates.
• Analysts at HC Wainwright have initiated coverage on Aligos, giving it a "buy" rating and setting a target price of $50.00.

Heights Capital Management Inc. bought a new position in shares of Aligos Therapeutics, Inc. (NASDAQ:ALGS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 241,500 shares of the company's stock, valued at approximately $1,992,000. Aligos Therapeutics makes up approximately 1.0% of Heights Capital Management Inc.'s portfolio, making the stock its 22nd largest position. Heights Capital Management Inc. owned about 3.95% of Aligos Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ALGS. Readystate Asset Management LP bought a new stake in Aligos Therapeutics during the first quarter worth about $375,000. Wells Fargo & Company MN bought a new stake in Aligos Therapeutics during the fourth quarter worth about $869,000. Boothbay Fund Management LLC bought a new stake in Aligos Therapeutics during the fourth quarter worth about $739,000. AlphaQuest LLC bought a new stake in Aligos Therapeutics during the first quarter worth about $130,000. Finally, Northern Trust Corp bought a new stake in Aligos Therapeutics during the fourth quarter worth about $205,000. Institutional investors own 60.43% of the company's stock.

Aligos Therapeutics Stock Up 3.2%

NASDAQ:ALGS opened at $11.33 on Thursday. The stock's 50 day moving average price is $8.36 and its two-hundred day moving average price is $9.03. The firm has a market capitalization of $69.68 million, a price-to-earnings ratio of -0.57 and a beta of 2.77. Aligos Therapeutics, Inc. has a 12-month low of $3.76 and a 12-month high of $46.80.

Aligos Therapeutics (NASDAQ:ALGS - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($1.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.35) by $0.82. The firm had revenue of $0.97 million for the quarter, compared to analyst estimates of $0.43 million. Aligos Therapeutics had a negative return on equity of 22.41% and a negative net margin of 2,337.24%. Equities research analysts expect that Aligos Therapeutics, Inc. will post -10.36 EPS for the current year.

Wall Street Analyst Weigh In

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

About Aligos Therapeutics

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).

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