Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) Short Interest Up 139.4% in March

Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 23,555 shares, an increase of 139.4% from the March 15th total of 9,838 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average trading volume of 12,937 shares, the short-interest ratio is currently 1.8 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Greenleaf Trust lifted its holdings in Alterity Therapeutics by 88.2% in the 3rd quarter. Greenleaf Trust now owns 32,000 shares of the company’s stock valued at $120,000 after purchasing an additional 15,000 shares in the last quarter. Citadel Advisors LLC purchased a new position in Alterity Therapeutics in the 3rd quarter valued at about $83,000. HB Wealth Management LLC purchased a new position in Alterity Therapeutics in the 3rd quarter valued at about $220,000. Finally, Twin Lakes Capital Management LLC lifted its holdings in Alterity Therapeutics by 2,250.3% in the 3rd quarter. Twin Lakes Capital Management LLC now owns 139,258 shares of the company’s stock valued at $524,000 after purchasing an additional 133,333 shares in the last quarter. 2.14% of the stock is currently owned by hedge funds and other institutional investors.

Alterity Therapeutics Price Performance

Shares of NASDAQ ATHE opened at $3.66 on Tuesday. Alterity Therapeutics has a 52 week low of $2.66 and a 52 week high of $7.00. The company’s 50-day moving average price is $3.47 and its 200 day moving average price is $3.61.

Alterity Therapeutics (NASDAQ:ATHE) last released its earnings results on Saturday, January 31st. The company reported ($0.18) earnings per share (EPS) for the quarter. The business had revenue of $0.93 million for the quarter. Equities research analysts forecast that Alterity Therapeutics will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ATHE has been the topic of a number of research reports. Canaccord Genuity Group initiated coverage on shares of Alterity Therapeutics in a research note on Wednesday, December 17th. They issued a “speculative buy” rating on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Alterity Therapeutics in a research note on Wednesday, January 21st. Finally, Zacks Research raised shares of Alterity Therapeutics to a “hold” rating in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold”.

About Alterity Therapeutics

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.