Alterity Therapeutics Limited (NASDAQ:ATHE) Sees Significant Decrease in Short Interest

Alterity Therapeutics Limited (NASDAQ:ATHE) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totalling 84,300 shares, a decline of 49.6% from the December 31st total of 167,300 shares. Based on an average daily trading volume, of 67,100 shares, the days-to-cover ratio is currently 1.3 days. Approximately 1.0% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Maxim Group boosted their price target on shares of Alterity Therapeutics from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday.

Alterity Therapeutics Price Performance

NASDAQ:ATHE traded up $0.23 during trading hours on Friday, hitting $4.80. 788,520 shares of the stock traded hands, compared to its average volume of 1,384,834. Alterity Therapeutics has a fifty-two week low of $1.00 and a fifty-two week high of $5.87. The firm has a 50 day moving average price of $2.71 and a 200 day moving average price of $1.81.

Institutional Trading of Alterity Therapeutics

An institutional investor recently raised its position in Alterity Therapeutics stock. HB Wealth Management LLC raised its holdings in shares of Alterity Therapeutics Limited (NASDAQ:ATHE) by 34.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,883 shares of the company’s stock after buying an additional 8,100 shares during the quarter. HB Wealth Management LLC owned about 0.44% of Alterity Therapeutics worth $110,000 as of its most recent SEC filing. 2.14% of the stock is currently owned by hedge funds and other institutional investors.

About Alterity Therapeutics

Alterity Therapeutics Limited engages in the research and development of therapeutic drugs to treat Alzheimer’s disease, Huntington disease, Parkinson’s disease, and other neurological disorders in Australia. The company’s lead drug candidate is ATH434 that is in Phase I clinical trial for the treatment of Parkinson’s disease.