Alterity Therapeutics (NASDAQ:ATHE) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Alterity Therapeutics (NASDAQ:ATHE) to a hold rating in a research note published on Thursday,Zacks.com reports.

Several other research analysts also recently commented on the stock. Canaccord Genuity Group assumed coverage on shares of Alterity Therapeutics in a research note on Wednesday, December 17th. They issued a “speculative buy” rating on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Alterity Therapeutics in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold”.

Alterity Therapeutics Trading Down 0.6%

ATHE stock opened at $3.49 on Thursday. Alterity Therapeutics has a twelve month low of $2.52 and a twelve month high of $7.00. The business’s fifty day simple moving average is $3.27 and its two-hundred day simple moving average is $4.05.

Institutional Investors Weigh In On Alterity Therapeutics

Several hedge funds have recently modified their holdings of the business. Twin Lakes Capital Management LLC increased its holdings in Alterity Therapeutics by 2,250.3% during the third quarter. Twin Lakes Capital Management LLC now owns 139,258 shares of the company’s stock valued at $524,000 after buying an additional 133,333 shares during the period. Greenleaf Trust increased its holdings in shares of Alterity Therapeutics by 88.2% in the 3rd quarter. Greenleaf Trust now owns 32,000 shares of the company’s stock valued at $120,000 after acquiring an additional 15,000 shares during the period. HB Wealth Management LLC purchased a new position in shares of Alterity Therapeutics in the 3rd quarter valued at $220,000. Finally, Citadel Advisors LLC bought a new position in shares of Alterity Therapeutics in the 3rd quarter worth $83,000. 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.