Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) Short Interest Down 44.5% in July

Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totaling 21,094 shares, a drop of 44.5% from the July 15th total of 38,037 shares. Based on an average daily trading volume, of 10,788 shares, the days-to-cover ratio is presently 2.0 days. Currently, 0.4% of the company’s stock are sold short.

Analyst Ratings Changes

ATHE has been the topic of several recent research reports. Craig Hallum set a $2.00 price target on Alterity Therapeutics in a research report on Tuesday, August 11th. UBS Group set a $12.00 price objective on shares of Alterity Therapeutics in a research report on Tuesday, August 11th. JonesTrading initiated coverage on shares of Alterity Therapeutics in a research note on Tuesday, June 30th. They set a “buy” rating and a $16.00 price objective on the stock. Zacks Research raised shares of Alterity Therapeutics to a “hold” rating in a research report on Wednesday, June 17th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Alterity Therapeutics in a research note on Tuesday, June 16th. They issued a “buy” rating and a $10.00 target price for the company. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.00.

Alterity Therapeutics Stock Up 0.2%

Shares of NASDAQ ATHE opened at $4.58 on Wednesday. Alterity Therapeutics has a 1 year low of $2.66 and a 1 year high of $5.89. The stock’s 50-day simple moving average is $4.84 and its 200-day simple moving average is $4.18.

Institutional Investors Weigh In On Alterity Therapeutics

An institutional investor recently bought a new position in Alterity Therapeutics stock. Citadel Advisors LLC purchased a new position in shares of Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,144 shares of the company’s stock, valued at approximately $83,000. Citadel Advisors LLC owned approximately 0.25% of Alterity Therapeutics at the end of the most recent quarter. Institutional investors and hedge funds own 2.14% of the company’s stock.

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.