Aligos Therapeutics (NASDAQ:ALGS) Stock Price Down 5.4% – Here’s What Happened

Aligos Therapeutics, Inc. (NASDAQ:ALGS) dropped 5.4% during mid-day trading on Friday . The company traded as low as $8.10 and last traded at $8.54. Approximately 70,762 shares traded 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 reiterated a “buy” rating and issued a $75.00 price target on shares of Aligos Therapeutics in a research note on Wednesday.

Aligos Therapeutics Stock Performance

The stock has a market capitalization of $656.12 million, a P/E ratio of -6.56 and a beta of 2.16. The firm has a fifty day moving average price of $10.59 and a two-hundred day moving average price of $13.44.

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 analysts’ consensus estimates 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 in the prior year, the company posted ($10.75) EPS. On average, research analysts anticipate that Aligos Therapeutics, Inc. will post -8.2 earnings per share for the current fiscal year.

Institutional Trading of Aligos Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Armistice Capital LLC grew its position in shares of 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 period. Opaleye Management Inc. grew its holdings 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, Acadian Asset Management LLC increased its position in Aligos Therapeutics by 26.1% in the second quarter. Acadian Asset Management LLC now owns 829,485 shares of the company’s stock worth $289,000 after buying an additional 171,490 shares in the last quarter. 60.43% of the stock is 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).