ALT5 Sigma (NASDAQ:ALTS) Shares Down 5.1% – Here’s What Happened

Shares of ALT5 Sigma Corporation (NASDAQ:ALTS) fell 5.1% during mid-day trading on Tuesday . The company traded as low as $1.09 and last traded at $1.12. 5,467,386 shares were traded during mid-day trading, an increase of 58% from the average session volume of 3,460,080 shares. The stock had previously closed at $1.18.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of ALT5 Sigma in a research report on Monday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, ALT5 Sigma currently has an average rating of “Sell”.

ALT5 Sigma Price Performance

The stock’s 50-day moving average is $1.74 and its two-hundred day moving average is $4.38. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.88 and a current ratio of 0.88.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Evernest Financial Advisors LLC bought a new position in shares of ALT5 Sigma during the 2nd quarter valued at approximately $87,000. Lantern Wealth Advisors LLC purchased a new stake in ALT5 Sigma during the third quarter valued at $36,000. Caitong International Asset Management Co. Ltd bought a new position in ALT5 Sigma during the third quarter valued at $98,000. Centiva Capital LP purchased a new position in shares of ALT5 Sigma in the 3rd quarter worth $626,000. Finally, Crcm LP bought a new stake in shares of ALT5 Sigma in the 3rd quarter worth about $6,220,000. Hedge funds and other institutional investors own 6.27% of the company’s stock.

ALT5 Sigma Company Profile

ALT5 Sigma Corp. is a clinical-stage biopharmaceutical company, which engages in identifying, acquiring, licensing, developing, partnering, and commercializing novel, non-opioid, and non-addictive therapies to address the large unmet medical need for the treatment of pain and addiction. It operates under the Biotechnology and Recycling segments. The Biotechnology segment focuses on finding treatments for conditions that cause severe pain and bringing to market drugs with non-addictive pain-relieving properties.