Alterity Therapeutics (NASDAQ:ATHE) Earns Speculative Buy Rating from Analysts at Canaccord Genuity Group

Canaccord Genuity Group initiated coverage on shares of Alterity Therapeutics (NASDAQ:ATHE) in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage issued a speculative buy rating on the stock.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Alterity Therapeutics in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.00.

Alterity Therapeutics Stock Up 2.0%

NASDAQ:ATHE opened at $3.09 on Wednesday. Alterity Therapeutics has a 12 month low of $2.05 and a 12 month high of $7.00. The firm’s 50 day moving average is $3.85 and its 200 day moving average is $4.39.

Institutional Investors Weigh In On Alterity Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Twin Lakes Capital Management LLC lifted its holdings in shares of Alterity Therapeutics by 2,250.3% in the third quarter. Twin Lakes Capital Management LLC now owns 139,258 shares of the company’s stock worth $524,000 after buying an additional 133,333 shares in the last quarter. HB Wealth Management LLC bought a new stake in Alterity Therapeutics during the 3rd quarter worth approximately $220,000. Greenleaf Trust lifted its stake in Alterity Therapeutics by 88.2% in the 3rd quarter. Greenleaf Trust now owns 32,000 shares of the company’s stock worth $120,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in Alterity Therapeutics in the 3rd quarter valued at $83,000. 2.14% of the stock is currently owned by institutional investors.

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.