Alterity Therapeutics Limited (NASDAQ:ATHE) Sees Large Decrease in Short Interest

Alterity Therapeutics Limited (NASDAQ:ATHE) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 54,600 shares, a decrease of 46.4% from the February 28th total of 101,800 shares. Based on an average trading volume of 424,200 shares, the short-interest ratio is currently 0.1 days. Currently, 0.5% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Maxim Group lifted their price objective on shares of Alterity Therapeutics from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Benchmark downgraded shares of Alterity Therapeutics from a “speculative buy” rating to a “hold” rating in a report on Monday, February 3rd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. HB Wealth Management LLC boosted its position in shares of Alterity Therapeutics by 34.1% in the fourth quarter. HB Wealth Management LLC now owns 31,883 shares of the company’s stock valued at $110,000 after acquiring an additional 8,100 shares during the period. BNP Paribas Financial Markets acquired a new stake in Alterity Therapeutics in the 4th quarter worth about $29,000. Finally, Point72 Asset Management L.P. bought a new stake in Alterity Therapeutics in the 4th quarter valued at about $108,000. 2.14% of the stock is owned by institutional investors and hedge funds.

Alterity Therapeutics Trading Down 1.7 %

Shares of NASDAQ ATHE opened at $3.44 on Friday. The business’s 50 day moving average is $3.90 and its 200-day moving average is $2.53. Alterity Therapeutics has a 1-year low of $1.00 and a 1-year high of $5.87.

Alterity Therapeutics Company Profile

Alterity Therapeutics Limited engages in the research and development of therapeutic drugs to treat Alzheimer’s disease, Huntington disease, Parkinson’s disease, and other neurological disorders in Australia. The company’s lead drug candidate is ATH434 that is in Phase I clinical trial for the treatment of Parkinson’s disease.