Allarity Therapeutics, Inc. (NASDAQ:ALLR) Short Interest Update

Allarity Therapeutics, Inc. (NASDAQ:ALLR) saw a significant growth in short interest in February. As of February 15th, there was short interest totalling 635,600 shares, a growth of 30.0% from the January 31st total of 489,100 shares. Approximately 18.8% of the shares of the company are sold short. Based on an average daily trading volume, of 1,820,000 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Allarity Therapeutics stock. Stonepine Capital Management LLC purchased a new stake in Allarity Therapeutics, Inc. (NASDAQ:ALLR) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 67,289 shares of the company’s stock, valued at approximately $79,000. Stonepine Capital Management LLC owned 1.52% of Allarity Therapeutics at the end of the most recent quarter. 11.53% of the stock is currently owned by hedge funds and other institutional investors.

Allarity Therapeutics Price Performance

Shares of Allarity Therapeutics stock opened at $0.88 on Tuesday. Allarity Therapeutics has a 52-week low of $0.68 and a 52-week high of $257.40. The firm has a 50-day moving average of $1.05 and a 200-day moving average of $1.83.

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

Allarity Therapeutics Company Profile

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.