Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) Short Interest Update

Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 54,009 shares, an increase of 486.0% from the May 31st total of 9,216 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily volume of 148,319 shares, the days-to-cover ratio is currently 0.4 days.

Alterity Therapeutics Trading Down 0.1%

Shares of Alterity Therapeutics stock traded down $0.01 during trading on Friday, hitting $4.89. 23,412 shares of the company were exchanged, compared to its average volume of 101,223. Alterity Therapeutics has a fifty-two week low of $4.14 and a fifty-two week high of $350.00. The firm has a 50 day moving average price of $4.45 and a 200 day moving average price of $3.75.

Hedge Funds Weigh In On Alterity Therapeutics

A hedge fund recently bought a new position in Alterity Therapeutics stock. Citadel Advisors LLC acquired a new stake in Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,144 shares of the company’s stock, valued at approximately $83,000. Citadel Advisors LLC owned approximately 0.25% of Alterity Therapeutics as of its most recent SEC filing. Hedge funds and other institutional investors own 2.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Zacks Research raised Alterity Therapeutics to a “hold” rating in a report on Wednesday, June 17th. LADENBURG THALM/SH SH began coverage on Alterity Therapeutics in a research note on Tuesday, June 16th. They set a “buy” rating and a $10.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Alterity Therapeutics in a research report on Monday, April 20th. Two investment analysts have 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.00.

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.