Short Interest in Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) Expands By 486.0%

Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 54,009 shares, a growth of 486.0% from the May 31st total of 9,216 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 148,319 shares, the days-to-cover ratio is presently 0.4 days.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ATHE. Zacks Research upgraded shares of Alterity Therapeutics to a “hold” rating in a research report on Wednesday, June 17th. LADENBURG THALM/SH SH began coverage on Alterity Therapeutics in a report on Tuesday, June 16th. They set a “buy” rating and a $10.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alterity Therapeutics in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Alterity Therapeutics has a consensus rating of “Hold” and an average target price of $10.00.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Alterity Therapeutics stock. Citadel Advisors LLC bought a new stake in Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,144 shares of the company’s stock, valued at approximately $83,000. Citadel Advisors LLC owned 0.25% of Alterity Therapeutics at the end of the most recent quarter. 2.14% of the stock is owned by hedge funds and other institutional investors.

Alterity Therapeutics Stock Performance

Alterity Therapeutics stock opened at $4.92 on Friday. Alterity Therapeutics has a twelve month low of $4.14 and a twelve month high of $350.00. The company’s 50-day moving average price is $4.42 and its 200-day moving average price is $3.74.

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.