Allarity Therapeutics (NASDAQ:ALLR) Shares Down 1.7% – Here’s What Happened

Allarity Therapeutics, Inc. (NASDAQ:ALLR)’s stock price fell 1.7% on Friday . The company traded as low as $1.12 and last traded at $1.14. 58,992 shares changed hands during trading, a decline of 66% from the average session volume of 173,657 shares. The stock had previously closed at $1.16.

Wall Street Analyst Weigh In

ALLR has been the subject of several research reports. Wall Street Zen raised shares of Allarity Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Ascendiant Capital Markets lifted their target price on Allarity Therapeutics from $9.00 to $9.25 and gave the company a “buy” rating in a report on Friday, September 26th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Allarity Therapeutics in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $9.25.

Allarity Therapeutics Trading Down 1.7%

The stock has a market cap of $18.01 million, a PE ratio of -1.93 and a beta of 0.23. The company’s 50 day moving average is $1.35 and its 200-day moving average is $1.22.

Allarity Therapeutics (NASDAQ:ALLR) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04. As a group, analysts forecast that Allarity Therapeutics, Inc. will post -78.08 EPS for the current year.

Institutional Investors Weigh In On Allarity Therapeutics

Institutional investors have recently made changes to their positions in the company. Private Advisor Group LLC bought a new stake in shares of Allarity Therapeutics during the 3rd quarter valued at about $441,000. Citadel Advisors LLC acquired a new position in Allarity Therapeutics during the 3rd quarter worth $149,000. XTX Topco Ltd bought a new position in Allarity Therapeutics in the 2nd quarter valued at about $51,000. Geode Capital Management LLC increased its stake in shares of Allarity Therapeutics by 49.3% during the second quarter. Geode Capital Management LLC now owns 50,650 shares of the company’s stock valued at $51,000 after acquiring an additional 16,729 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Allarity Therapeutics during the 2nd quarter valued at $27,000. 11.53% of the stock is currently owned by institutional investors.

About Allarity Therapeutics

Allarity Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in developing oncology therapeutics using drug-specific companion diagnostics generated by its drug response predictor technology. Its drug candidates include Stenoparib, a poly-ADP-ribose polymerase inhibitor that is in Phase 2 clinical trials for ovarian cancer; Dovitinib, a pan- tyrosine kinase inhibitor for the treatment of renal cell carcinoma; IXEMPRA (ixabepilone), a selective microtubule inhibitor in phase 2 for the treatment of metastatic breast cancer; LiPlaCis, a liposomal formulation of cisplatin, which is in Phase 2 clinical trials for metastatic breast cancer; and 2X-111, a liposomal formulation of doxorubicin that is in Phase 2 clinical trials for metastatic breast cancer and glioblastoma multiforme.