Allos Therapeutics (ALTH) NewsBite - ALTH Rises on Unusual Volume

Posted: Friday, August 28, 2009 10:56 AM EDT

Allos Therapeutics (NGM: ALTH) opened at $6.63. So far today, the stock has hit a low of $6.60 and a high of $7.59. ALTH is now trading at $7.18, down $0.59 (-7.59%). Over the last 52 weeks the stock has ranged from a low of $3.82 to a high of $9.95. Shares of ALTH are declining on higher-than-average volume this morning. As of 10:30 am EDT, 3.7 million shares of the stock have changed hands, well above the stocks average daily volume of 850,000 shares, indicating that there could be a surplus of sellers on the market. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for ALTH. If you are looking for a hedged play on ALTH the stock seems like it could be a candidate for an October out-of-the-money bear-call credit spread above the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]

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