Allos Therapeutics (ALTH) NewsBite - Stock Offering Pulls Down ALTH

Posted: Wednesday, October 07, 2009 11:00 AM EDT

Allos Therapeutics (NGM: ALTH) opened at $7.19. So far today, the stock has hit a low of $7.12 and a high of $7.39. ALTH is now trading at $7.18, down $0.14 (-1.85%). Over the last 52 weeks the stock has ranged from a low of $3.82 to a high of $9.30. ALTH shares are declining this morning after the company priced an offering of 14 million shares at $7.10 per share. 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 a January out-of-the-money bear-call credit spread above the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]

Click Symbol For More News On: (ALTH)