Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) Sees Significant Drop in Short Interest

Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) was the target of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totaling 2,079 shares, a decrease of 91.2% from the November 30th total of 23,686 shares. Based on an average daily trading volume, of 16,661 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are sold short. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 16,661 shares, the short-interest ratio is presently 0.1 days.

Alterity Therapeutics Trading Down 1.9%

Shares of Alterity Therapeutics stock opened at $3.03 on Friday. Alterity Therapeutics has a 52-week low of $2.46 and a 52-week high of $7.00. The company’s 50-day simple moving average is $3.71 and its 200-day simple moving average is $4.35.

Institutional Trading of Alterity Therapeutics

Several hedge funds have recently modified their holdings of the business. Greenleaf Trust acquired a new position in Alterity Therapeutics during the second quarter worth $70,000. Citadel Advisors LLC acquired a new stake in Alterity Therapeutics in the third quarter valued at $83,000. HB Wealth Management LLC purchased a new stake in shares of Alterity Therapeutics during the 3rd quarter worth $220,000. Finally, Twin Lakes Capital Management LLC grew its stake in shares of Alterity Therapeutics by 2,250.3% during the 3rd quarter. Twin Lakes Capital Management LLC now owns 139,258 shares of the company’s stock worth $524,000 after purchasing an additional 133,333 shares during the period. 2.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ATHE shares. Weiss Ratings restated a “sell (e+)” rating on shares of Alterity Therapeutics in a research report on Wednesday, October 8th. Canaccord Genuity Group initiated coverage on Alterity Therapeutics in a research note on Wednesday, December 17th. They issued a “speculative buy” rating on the stock. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.00.

Alterity Therapeutics Company Profile

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.