Allarity Therapeutics, Inc. (NASDAQ:ALLR) Short Interest Down 53.9% in June

Allarity Therapeutics, Inc. (NASDAQ:ALLR) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totaling 80,824 shares, a drop of 53.9% from the June 15th total of 175,384 shares. Based on an average daily volume of 144,991 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.5% of the shares of the stock are sold short.

Hedge Funds Weigh In On Allarity Therapeutics

Several hedge funds have recently modified their holdings of the stock. Jane Street Group LLC acquired a new stake in Allarity Therapeutics in the 2nd quarter worth approximately $27,000. XTX Topco Ltd purchased a new position in shares of Allarity Therapeutics in the fourth quarter worth $36,000. Geode Capital Management LLC raised its holdings in shares of Allarity Therapeutics by 49.3% in the second quarter. Geode Capital Management LLC now owns 50,650 shares of the company’s stock worth $51,000 after buying an additional 16,729 shares during the last quarter. Capital Advisors Inc. OK purchased a new stake in shares of Allarity Therapeutics in the fourth quarter worth about $108,000. Finally, DRW Securities LLC acquired a new stake in Allarity Therapeutics during the fourth quarter worth about $133,000. Institutional investors and hedge funds own 11.53% of the company’s stock.

Wall Street Analyst Weigh In

ALLR has been the topic of a number of recent research reports. Ascendiant Capital Markets upped their price objective on Allarity Therapeutics from $9.75 to $10.25 and gave the company a “buy” rating in a research report on Monday, June 8th. Wall Street Zen upgraded Allarity Therapeutics to a “hold” rating in a report on Saturday, May 30th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Allarity Therapeutics in a research report on Monday, April 20th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Allarity Therapeutics has a consensus rating of “Hold” and a consensus price target of $10.25.

Allarity Therapeutics Price Performance

Allarity Therapeutics stock opened at $1.13 on Tuesday. The stock has a market capitalization of $17.98 million, a price-to-earnings ratio of -1.57 and a beta of 0.53. Allarity Therapeutics has a 1-year low of $0.77 and a 1-year high of $2.35. The business has a fifty day moving average price of $1.46 and a 200-day moving average price of $1.24.

Allarity Therapeutics (NASDAQ:ALLR) last announced its earnings results on Friday, May 15th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.05. The business had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.03 million. On average, equities research analysts anticipate that Allarity Therapeutics will post -0.92 earnings per share for the current fiscal year.

About Allarity Therapeutics

Allarity Therapeutics A/S (NASDAQ:ALLR) is a clinical‐stage biotechnology company focused on advancing precision medicine in oncology and other severe diseases. The company leverages predictive biomarkers and proprietary companion diagnostic tools to identify patient populations most likely to respond to its therapeutic candidates. By integrating molecular profiling early in development, Allarity aims to improve clinical trial success rates and accelerate the path to regulatory approval.

The company’s lead pipeline includes novel small‐molecule inhibitors engineered to target key pathways in solid tumors, with two primary assets currently in mid‐stage clinical trials.