Aligos Therapeutics (NASDAQ:ALGS) Trading Down 5.4% – Here’s Why

Aligos Therapeutics, Inc. (NASDAQ:ALGS)’s stock price dropped 5.4% during trading on Friday . The company traded as low as $8.10 and last traded at $8.54. Approximately 70,762 shares changed hands during trading, an increase of 106% from the average daily volume of 34,363 shares. The stock had previously closed at $9.03.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price target on shares of Aligos Therapeutics in a report on Wednesday.

Aligos Therapeutics Trading Down 2.3 %

The company has a fifty day moving average price of $10.69 and a 200-day moving average price of $13.65. The firm has a market cap of $688.93 million, a price-to-earnings ratio of -6.61 and a beta of 2.16.

Aligos Therapeutics (NASDAQ:ALGS) last posted its earnings results on Tuesday, August 6th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of ($4.00) by $4.75. The firm had revenue of $1.06 million during the quarter. Aligos Therapeutics had a negative net margin of 1,100.48% and a negative return on equity of 110.59%. During the same period last year, the firm earned ($10.75) earnings per share. As a group, research analysts forecast that Aligos Therapeutics, Inc. will post -8.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aligos Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC grew its holdings in shares of Aligos Therapeutics by 17.6% during the 1st quarter. Acadian Asset Management LLC now owns 657,995 shares of the company’s stock worth $644,000 after purchasing an additional 98,628 shares during the period. Armistice Capital LLC increased its holdings in Aligos Therapeutics by 5.3% in the 2nd quarter. Armistice Capital LLC now owns 7,256,410 shares of the company’s stock valued at $2,540,000 after purchasing an additional 363,000 shares during the last quarter. Finally, Opaleye Management Inc. grew its position in shares of Aligos Therapeutics by 25.7% during the first quarter. Opaleye Management Inc. now owns 1,630,000 shares of the company’s stock worth $1,597,000 after buying an additional 333,000 shares in the last quarter. 60.43% of the stock is currently owned by institutional investors and hedge funds.

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).