Short Interest in ALT5 Sigma Corporation (NASDAQ:ALTS) Rises By 66.8%

Key Points

• Short interest in ALT5 Sigma Corporation rose by 66.8% in September, with total shares short reaching 11,340,000, indicating increasing bearish sentiment towards the stock.
• Several institutional investors made significant changes to their stakes in ALT5 Sigma, with Geode Capital Management increasing its position by 27.6%, now owning 194,813 shares valued at $1,412,000.
• Equities research analysts have downgraded ALT5 Sigma's rating, with Wall Street Zen changing it to a "strong sell" and Weiss Ratings assigning a "sell (d-)" rating, reflecting negative outlooks on the stock.

ALT5 Sigma Corporation (NASDAQ:ALTS - Get Free Report) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 11,340,000 shares, a growth of 66.8% from the August 31st total of 6,800,000 shares. Based on an average daily volume of 7,900,000 shares, the days-to-cover ratio is presently 1.4 days. Currently, 10.5% of the company's shares are short sold. Currently, 10.5% of the company's shares are short sold. Based on an average daily volume of 7,900,000 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Evernest Financial Advisors LLC bought a new stake in shares of ALT5 Sigma in the second quarter worth about $87,000. Geode Capital Management LLC grew its position in shares of 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 purchasing an additional 42,157 shares during the period. Jane Street Group LLC bought a new stake in ALT5 Sigma during the 2nd quarter worth approximately $380,000. Finally, Bridgeway Capital Management LLC lifted its stake in 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 buying an additional 1,661 shares in the last quarter. 6.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ALTS shares. Wall Street Zen downgraded shares of ALT5 Sigma from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of ALT5 Sigma in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of "Sell".

ALT5 Sigma Stock Performance

Shares of NASDAQ:ALTS opened at $2.87 on Monday. The company has a 50 day moving average price of $5.29 and a two-hundred day moving average price of $6.34. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.45. ALT5 Sigma has a 52 week low of $1.55 and a 52 week high of $10.95.

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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