Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) Short Interest Down 48.4% in March

Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) was the recipient of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 9,838 shares, a decline of 48.4% from the February 26th total of 19,055 shares. Based on an average daily volume of 10,987 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.2% of the shares of the company are sold short.

Analyst Ratings Changes

Several equities analysts have commented on ATHE shares. Canaccord Genuity Group started coverage on Alterity Therapeutics in a report on Wednesday, December 17th. They set a “speculative buy” rating on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alterity Therapeutics in a research note on Wednesday, January 21st. Finally, Zacks Research upgraded shares of Alterity Therapeutics to a “hold” rating in a report on Thursday, February 12th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold”.

Institutional Trading of Alterity Therapeutics

Institutional investors have recently modified their holdings of the company. Twin Lakes Capital Management LLC raised its stake in shares of Alterity Therapeutics by 2,250.3% in the third quarter. Twin Lakes Capital Management LLC now owns 139,258 shares of the company’s stock valued at $524,000 after purchasing an additional 133,333 shares in the last quarter. HB Wealth Management LLC acquired a new stake in Alterity Therapeutics during the third quarter worth $220,000. Greenleaf Trust increased its holdings in Alterity Therapeutics by 88.2% in the 3rd quarter. Greenleaf Trust now owns 32,000 shares of the company’s stock valued at $120,000 after buying an additional 15,000 shares during the period. Finally, Citadel Advisors LLC bought a new stake in Alterity Therapeutics in the 3rd quarter valued at $83,000. Institutional investors and hedge funds own 2.14% of the company’s stock.

Alterity Therapeutics Price Performance

Shares of NASDAQ ATHE opened at $3.16 on Friday. The business’s 50 day moving average is $3.40 and its two-hundred day moving average is $3.70. Alterity Therapeutics has a 12 month low of $2.52 and a 12 month high of $7.00.

Alterity Therapeutics (NASDAQ:ATHE) last announced its quarterly earnings data on Saturday, January 31st. The company reported ($0.18) EPS for the quarter. The firm had revenue of $0.93 million for the quarter. On average, equities research analysts expect that Alterity Therapeutics will post -0.34 EPS for the current year.

Alterity Therapeutics Company Profile

Alterity Therapeutics is a clinical-stage biotechnology company focused on the development of novel treatments for neurological and neurodegenerative disorders. The company’s research portfolio centers on small molecules designed to target underlying disease mechanisms, with an emphasis on improving synaptic function and mitigating neuroinflammation.

Among its lead assets is trofinetide (NNZ-2566), a peptide analog derived from insulin-like growth factor 1, which is being investigated for the treatment of Rett syndrome and Fragile X syndrome in ongoing clinical trials.