Alterity Therapeutics (NASDAQ:ATHE) Stock Price Down 2.1% – Here’s Why

Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) shares dropped 2.1% during mid-day trading on Thursday . The company traded as low as $4.11 and last traded at $4.18. Approximately 21,376 shares changed hands during trading, a decline of 13% from the average daily volume of 24,617 shares. The stock had previously closed at $4.27.

Wall Street Analysts Forecast Growth

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

Alterity Therapeutics Trading Down 1.0%

The stock’s 50-day moving average is $4.02 and its 200-day moving average is $3.61.

Alterity Therapeutics (NASDAQ:ATHE) last posted its earnings results on Saturday, January 31st. The company reported ($0.18) earnings per share (EPS) for the quarter. The company had revenue of $0.93 million for the quarter.

Institutional Trading of Alterity Therapeutics

An institutional investor recently bought a new position in Alterity Therapeutics stock. Citadel Advisors LLC acquired a new stake in Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 22,144 shares of the company’s stock, valued at approximately $83,000. Citadel Advisors LLC owned approximately 0.25% of Alterity Therapeutics as of its most recent SEC filing. Hedge funds and other institutional investors 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.