Short Interest in Alterity Therapeutics Limited (NASDAQ:ATHE) Declines By 46.4%

Alterity Therapeutics Limited (NASDAQ:ATHE) was the target of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 54,600 shares, a decrease of 46.4% from the February 28th total of 101,800 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average trading volume of 424,200 shares, the days-to-cover ratio is presently 0.1 days.

Alterity Therapeutics Stock Performance

Shares of ATHE stock opened at $3.56 on Friday. The business’s 50 day moving average is $3.90 and its two-hundred day moving average is $2.52. Alterity Therapeutics has a twelve month low of $1.00 and a twelve month high of $5.87.

Institutional Investors Weigh In On Alterity Therapeutics

Several hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new position in Alterity Therapeutics during the 4th quarter worth $29,000. HB Wealth Management LLC increased its stake in shares of Alterity Therapeutics by 34.1% during the fourth quarter. HB Wealth Management LLC now owns 31,883 shares of the company’s stock worth $110,000 after acquiring an additional 8,100 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Alterity Therapeutics during the fourth quarter worth about $108,000. 2.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Maxim Group lifted their target price on shares of Alterity Therapeutics from $8.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Benchmark lowered shares of Alterity Therapeutics from a “speculative buy” rating to a “hold” rating in a research note on Monday, February 3rd.

About Alterity Therapeutics

Alterity Therapeutics Limited engages in the research and development of therapeutic drugs to treat Alzheimer’s disease, Huntington disease, Parkinson’s disease, and other neurological disorders in Australia. The company’s lead drug candidate is ATH434 that is in Phase I clinical trial for the treatment of Parkinson’s disease.