Short Interest in Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) Decreases By 44.5%

Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totaling 21,094 shares, a decline of 44.5% from the July 15th total of 38,037 shares. Based on an average daily trading volume, of 10,788 shares, the days-to-cover ratio is currently 2.0 days. Approximately 0.4% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Craig Hallum set a $2.00 price target on shares of Alterity Therapeutics in a research note on Tuesday, August 11th. LADENBURG THALM/SH SH began coverage on shares of Alterity Therapeutics in a report on Tuesday, June 16th. They issued a “buy” rating and a $10.00 price objective on the stock. Zacks Research upgraded shares of Alterity Therapeutics to a “hold” rating in a research note on Wednesday, June 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Alterity Therapeutics in a research note on Friday, July 17th. Finally, UBS Group set a $12.00 price objective on Alterity Therapeutics in a research report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Alterity Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

Hedge Funds Weigh In On Alterity Therapeutics

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

Alterity Therapeutics Price Performance

Shares of NASDAQ:ATHE traded down $0.15 on Monday, reaching $4.64. The company’s stock had a trading volume of 26,863 shares, compared to its average volume of 27,452. Alterity Therapeutics has a 52-week low of $2.66 and a 52-week high of $5.89. The stock’s 50-day moving average is $4.82 and its two-hundred day moving average is $4.16.

About Alterity Therapeutics

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.