Allarity Therapeutics, Inc. (NASDAQ:ALLR) Short Interest Down 27.1% in March

Allarity Therapeutics, Inc. (NASDAQ:ALLR) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 478,600 shares, a decline of 27.1% from the February 28th total of 656,500 shares. Currently, 14.1% of the shares of the stock are short sold. Based on an average daily volume of 2,630,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of Allarity Therapeutics

An institutional investor recently bought a new position in Allarity Therapeutics stock. Stonepine Capital Management LLC acquired a new position in shares of Allarity Therapeutics, Inc. (NASDAQ:ALLR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 67,289 shares of the company’s stock, valued at approximately $79,000. Stonepine Capital Management LLC owned about 1.52% of Allarity Therapeutics as of its most recent SEC filing. Institutional investors own 11.53% of the company’s stock.

Allarity Therapeutics Stock Performance

NASDAQ:ALLR opened at $0.94 on Tuesday. Allarity Therapeutics has a 12-month low of $0.68 and a 12-month high of $185.82. The company’s 50-day moving average is $1.03 and its two-hundred day moving average is $1.29.

Allarity Therapeutics announced that its Board of Directors has initiated a share buyback program on Monday, March 3rd that permits the company to buyback $5.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 128.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

About Allarity Therapeutics

Allarity Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in developing oncology therapeutics using drug-specific companion diagnostics generated by its drug response predictor technology. Its drug candidates include Stenoparib, a poly-ADP-ribose polymerase inhibitor that is in Phase 2 clinical trials for ovarian cancer; Dovitinib, a pan- tyrosine kinase inhibitor for the treatment of renal cell carcinoma; IXEMPRA (ixabepilone), a selective microtubule inhibitor in phase 2 for the treatment of metastatic breast cancer; LiPlaCis, a liposomal formulation of cisplatin, which is in Phase 2 clinical trials for metastatic breast cancer; and 2X-111, a liposomal formulation of doxorubicin that is in Phase 2 clinical trials for metastatic breast cancer and glioblastoma multiforme.