Short Interest in Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) Drops By 42.1%

Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totaling 8,051 shares, a decrease of 42.1% from the April 30th total of 13,895 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 28,212 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

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) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 22,144 shares of the company’s stock, valued at approximately $83,000. Citadel Advisors LLC owned about 0.25% of Alterity Therapeutics at the end of the most recent reporting period. Institutional investors own 2.14% of the company’s stock.

Wall Street Analysts Forecast Growth

ATHE has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Alterity Therapeutics in a report on Monday, April 20th. Zacks Research raised Alterity Therapeutics to a “hold” rating in a report on Thursday, February 12th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Alterity Therapeutics Trading Up 1.5%

Shares of Alterity Therapeutics stock traded up $0.06 on Wednesday, hitting $4.08. 3,542 shares of the company’s stock were exchanged, compared to its average volume of 16,705. The company has a 50-day simple moving average of $4.09 and a 200-day simple moving average of $3.63. Alterity Therapeutics has a 1 year low of $2.66 and a 1 year high of $7.00.

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.