Aligos Therapeutics (NASDAQ:ALGS) Sees Unusually-High Trading Volume – Here’s Why

Shares of Aligos Therapeutics, Inc. (NASDAQ:ALGS) saw an uptick in trading volume on Thursday . 105,365 shares changed hands during trading, an increase of 247% from the previous session’s volume of 30,375 shares.The stock last traded at $7.78 and had previously closed at $7.21.

Analysts Set New Price Targets

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

Aligos Therapeutics Price Performance

The business has a 50 day moving average price of $10.75 and a 200 day moving average price of $13.69. The stock has a market capitalization of $706.90 million, a PE ratio of -6.32 and a beta of 2.16.

Aligos Therapeutics (NASDAQ:ALGS) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of ($4.00) by $4.75. The company had revenue of $1.06 million for 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 company posted ($10.75) earnings per share. On average, equities analysts expect that Aligos Therapeutics, Inc. will post -8.2 earnings per share for the current year.

Institutional Investors Weigh In On Aligos Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in ALGS. Acadian Asset Management LLC boosted its stake in Aligos Therapeutics by 17.6% during the 1st quarter. Acadian Asset Management LLC now owns 657,995 shares of the company’s stock valued at $644,000 after purchasing an additional 98,628 shares during the last quarter. Opaleye Management Inc. lifted its holdings 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 valued at $1,597,000 after purchasing an additional 333,000 shares in the last quarter. Finally, Armistice Capital LLC lifted its holdings in shares of Aligos Therapeutics by 5.3% during the second 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 in the last quarter. Institutional investors 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).