ALT5 Sigma Corporation (NASDAQ:ALTS) Short Interest Up 152.0% in August

Key Points

• ALT5 Sigma Corporation's short interest surged by 152.0% in August, reaching 2,120,000 shares from 841,400 in July, indicating increased bearish sentiment.
• Wall Street analysts downgraded the stock from a "hold" to a "strong sell" rating, reflecting a pessimistic outlook.
• Shares of ALT5 Sigma are down 19.5%, trading at $4.49, significantly lower than its 12-month high of $10.95.

ALT5 Sigma Corporation (NASDAQ:ALTS - Get Free Report) was the recipient of a large growth in short interest during the month of August. As of August 15th, there was short interest totaling 2,120,000 shares, agrowthof152.0% from the July 31st total of 841,400 shares. Based on an average daily volume of 3,740,000 shares, the short-interest ratio is presently 0.6 days. Approximately1.8% of the shares of the stock are sold short. Approximately1.8% of the shares of the stock are sold short. Based on an average daily volume of 3,740,000 shares, the short-interest ratio is presently 0.6 days.

Institutional Trading of ALT5 Sigma

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

Wall Street Analyst Weigh In

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

ALT5 Sigma Price Performance

Shares of ALTS stock traded down $0.23 during trading hours on Monday, reaching $4.18. 11,346,993 shares of the company were exchanged, compared to its average volume of 2,544,994. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.88 and a quick ratio of 0.88. The stock's fifty day moving average is $6.90 and its two-hundred day moving average is $6.58. ALT5 Sigma has a fifty-two week low of $1.55 and a fifty-two week high of $10.95.

About ALT5 Sigma

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.