Allarity Therapeutics (NASDAQ:ALLR) Trading Down 3.4% – Should You Sell?

Allarity Therapeutics, Inc. (NASDAQ:ALLR) shares traded down 3.4% during mid-day trading on Wednesday . The company traded as low as $1.37 and last traded at $1.43. 288,045 shares were traded during mid-day trading, a decline of 17% from the average session volume of 346,558 shares. The stock had previously closed at $1.48.

Analysts Set New Price Targets

ALLR has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Allarity Therapeutics in a report on Wednesday, October 8th. Wall Street Zen raised Allarity Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Finally, Ascendiant Capital Markets boosted their price target on shares of Allarity Therapeutics from $9.00 to $9.25 and gave the company a “buy” rating in a report on Friday, September 26th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $9.25.

Allarity Therapeutics Price Performance

The stock has a 50 day moving average of $1.51 and a two-hundred day moving average of $1.16.

Allarity Therapeutics (NASDAQ:ALLR) last announced its earnings results on Friday, August 15th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.06. As a group, analysts expect that Allarity Therapeutics, Inc. will post -78.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allarity Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in Allarity Therapeutics by 49.3% during the 2nd quarter. Geode Capital Management LLC now owns 50,650 shares of the company’s stock valued at $51,000 after acquiring an additional 16,729 shares in the last quarter. XTX Topco Ltd acquired a new position in Allarity Therapeutics in the 2nd quarter valued at approximately $51,000. Finally, Jane Street Group LLC acquired a new position in Allarity Therapeutics in the 2nd quarter valued at approximately $27,000. 11.53% of the stock is currently owned by institutional investors and hedge funds.

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.