Market Analysts see Allena Pharmaceuticals Inc. [ALNA] gaining to $10. Time to buy?


Allena Pharmaceuticals Inc. [NASDAQ: ALNA] slipped around -0.03 points on Wednesday, while shares priced at $0.14 at the close of the session, down -16.36%. The company report on May 4, 2022 that Allena Pharmaceuticals Announces $2.8 Million Registered Direct Offering.

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Allena Pharmaceuticals, Inc. (NASDAQ: ALNA), a late-stage, biopharmaceutical company dedicated to developing and commercializing first-in-class, oral enzyme therapeutics to treat patients with rare and severe metabolic and kidney disorders, today announced that it has entered into a securities purchase agreement with an investor for the issuance and sale of an aggregate of 1,436.0688 shares of its Series D Convertible Preferred Stock, and 1,436.0688 shares of its Series E Convertible Preferred Stock in a registered direct offering for an aggregate gross proceeds of approximately $2.8 million, before deducting placement agent fees and other offering expenses. The shares of Series D Convertible Preferred Stock and Series E Convertible Preferred Stock each have a stated value of $1,000 per share and are convertible into an aggregate of 8,975,430 shares of common stock of the Company upon the conversion of the Series D Convertible Preferred Stock and into an aggregate of 8,975,430 shares of common stock of the Company upon the conversion of the Series E Convertible Preferred Stock, in each case, at a conversion price of $0.16 per share.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

Allena Pharmaceuticals Inc. stock is now -76.10% down from its year-to-date (YTD) trading value. ALNA Stock saw the intraday high of $0.169 and lowest of $0.1336 per share. The company’s 52-week high price is 1.45, which means current price is +5.99% above from all time high which was touched on 01/04/22.

Compared to the average trading volume of 1.66M shares, ALNA reached a trading volume of 5992995 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Allena Pharmaceuticals Inc. [ALNA]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ALNA shares is $5.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ALNA stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for Allena Pharmaceuticals Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 01, 2020. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Outperform. The new note on the price target was released on July 10, 2019, representing the official price target for Allena Pharmaceuticals Inc. stock. Previously, the target price had yet another raise to $20, while Robert W. Baird analysts kept a Outperform rating on ALNA stock.

The Average True Range (ATR) for Allena Pharmaceuticals Inc. is set at 0.02 The Price to Book ratio for the last quarter was 0.62, with the Price to Cash per share for the same quarter was set at 0.29.

How has ALNA stock performed recently?

Allena Pharmaceuticals Inc. [ALNA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -23.25. With this latest performance, ALNA shares dropped by -41.37% in over the last four-week period, additionally sinking by -83.45% over the last 6 months – not to mention a drop of -87.69% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ALNA stock in for the last two-week period is set at 25.35, with the RSI for the last a single of trading hit 20.43, and the three-weeks RSI is set at 29.05 for Allena Pharmaceuticals Inc. [ALNA]. The present Moving Average for the last 50 days of trading for this stock 0.3078, while it was recorded at 0.1658 for the last single week of trading, and 0.6439 for the last 200 days.

Allena Pharmaceuticals Inc. [ALNA]: Deeper insight into the fundamentals

Return on Equity for this stock declined to -234.88, with Return on Assets sitting at -132.08.

Allena Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.10.

Insider trade positions for Allena Pharmaceuticals Inc. [ALNA]

There are presently around $3 million, or 14.60% of ALNA stock, in the hands of institutional investors. The top three institutional holders of ALNA stocks are: AIGH CAPITAL MANAGEMENT LLC with ownership of 4,000,000, which is approximately 0% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 3,290,755 shares of the stock with an approximate value of $0.56 million in ALNA stocks shares; and TRV GP II, LLC, currently with $0.47 million in ALNA stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Allena Pharmaceuticals Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 12 institutional holders increased their position in Allena Pharmaceuticals Inc. [NASDAQ:ALNA] by around 1,547,956 shares. Additionally, 18 investors decreased positions by around 4,550,689 shares, while 11 investors held positions by with 10,891,392 shares. The mentioned changes placed institutional holdings at 16,990,037 shares, according to the latest SEC report filing. ALNA stock had 4 new institutional investments in for a total of 189,379 shares, while 10 institutional investors sold positions of 1,568,585 shares during the same period.