Aligos Therapeutics (NASDAQ:ALGS) Sees Strong Trading Volume

Aligos Therapeutics, Inc. (NASDAQ:ALGS) shares saw unusually-high trading volume on Tuesday . Approximately 49,105 shares traded hands during trading, an increase of 157% from the previous session’s volume of 19,127 shares.The stock last traded at $16.95 and had previously closed at $19.43.

Analyst Ratings Changes

Separately, HC Wainwright initiated coverage on shares of Aligos Therapeutics in a research note on Monday, August 19th. They set a “buy” rating and a $75.00 target price on the stock.

Aligos Therapeutics Price Performance

The company’s 50 day simple moving average is $12.99 and its 200 day simple moving average is $16.82. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -10.78 and a beta of 2.18.

Aligos Therapeutics (NASDAQ:ALGS) last released its earnings results on Tuesday, August 6th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of ($4.00) by $4.75. Aligos Therapeutics had a negative net margin of 1,100.48% and a negative return on equity of 110.59%. The firm had revenue of $1.06 million for the quarter. During the same quarter in the previous year, the company posted ($10.75) earnings per share. As a group, analysts forecast that Aligos Therapeutics, Inc. will post -8.15 earnings per share for the current year.

Hedge Funds Weigh In On Aligos Therapeutics

Several large investors have recently bought and sold shares of ALGS. Acadian Asset Management LLC grew its position in Aligos Therapeutics by 26.1% during the 2nd quarter. Acadian Asset Management LLC now owns 829,485 shares of the company’s stock worth $289,000 after purchasing an additional 171,490 shares during the last quarter. Opaleye Management Inc. acquired a new position in Aligos Therapeutics in the 4th quarter valued at about $861,000. Altitude Crest Partners Inc. acquired a new position in Aligos Therapeutics in the 4th quarter valued at about $1,889,000. Finally, Armistice Capital LLC raised its stake in Aligos Therapeutics by 5.3% during the 2nd quarter. Armistice Capital LLC now owns 7,256,410 shares of the company’s stock valued at $2,540,000 after acquiring an additional 363,000 shares during the last quarter. Institutional investors and hedge funds own 60.43% of the company’s stock.

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).