Alterity Therapeutics (NASDAQ:ATHE) Trading Up 2.1% – Here’s Why

Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) shares shot up 2.1% on Thursday . The stock traded as high as $4.15 and last traded at $3.92. 90,255 shares were traded during mid-day trading, a decline of 37% from the average session volume of 144,307 shares. The stock had previously closed at $3.84.

Alterity Therapeutics Stock Performance

The stock’s 50 day moving average is $4.15 and its 200-day moving average is $3.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATHE. Point72 Asset Management L.P. purchased a new position in shares of Alterity Therapeutics in the 4th quarter worth approximately $108,000. BNP Paribas Financial Markets bought a new stake in Alterity Therapeutics in the fourth quarter worth $29,000. Finally, HB Wealth Management LLC boosted its stake in Alterity Therapeutics by 17.6% during the first quarter. HB Wealth Management LLC now owns 37,483 shares of the company’s stock worth $129,000 after buying an additional 5,600 shares during the period. Hedge funds and other institutional investors own 2.14% of the company’s stock.

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.