Aligos Therapeutics (NASDAQ:ALGS) Stock Price Down 8.4% – Time to Sell?

Shares of Aligos Therapeutics, Inc. (NASDAQ:ALGS) fell 8.4% during trading on Monday . The company traded as low as $6.98 and last traded at $6.98. 56,506 shares traded hands during trading, an increase of 87% from the average session volume of 30,152 shares. The stock had previously closed at $7.62.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and set a $75.00 price target on shares of Aligos Therapeutics in a research note on Friday, September 20th.

Aligos Therapeutics Stock Performance

The company’s 50-day moving average price is $11.49 and its 200 day moving average price is $14.35. The stock has a market capitalization of $576.45 million, a P/E ratio of -5.68 and a beta of 2.16.

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

Institutional Investors Weigh In On Aligos Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC raised its position in shares of Aligos Therapeutics by 26.1% during the 2nd quarter. Acadian Asset Management LLC now owns 829,485 shares of the company’s stock valued at $289,000 after buying an additional 171,490 shares in the last quarter. Opaleye Management Inc. raised its position in Aligos Therapeutics by 25.7% during the first quarter. Opaleye Management Inc. now owns 1,630,000 shares of the company’s stock valued at $1,597,000 after purchasing an additional 333,000 shares during the period. Finally, Armistice Capital LLC lifted its stake in shares of 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. 60.43% of the stock is currently owned by hedge funds and other institutional investors.

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).