Alterity Therapeutics (NASDAQ:ATHE) Trading Up 1% – Still a Buy?

Alterity Therapeutics Limited (NASDAQ:ATHE)’s stock price rose 1% during trading on Tuesday . The company traded as high as $3.72 and last traded at $3.58. Approximately 4,098 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 152,782 shares. The stock had previously closed at $3.54.

Analysts Set New Price Targets

ATHE has been the topic of several research reports. Benchmark cut shares of Alterity Therapeutics from a “speculative buy” rating to a “hold” rating in a research report on Monday, February 3rd. Maxim Group lifted their price target on Alterity Therapeutics from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th.

Alterity Therapeutics Stock Performance

The business’s 50-day simple moving average is $3.89 and its 200 day simple moving average is $2.50.

Institutional Investors Weigh In On Alterity Therapeutics

Institutional investors have recently made changes to their positions in the business. HB Wealth Management LLC boosted its position in Alterity Therapeutics by 34.1% during the fourth quarter. HB Wealth Management LLC now owns 31,883 shares of the company’s stock valued at $110,000 after buying an additional 8,100 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Alterity Therapeutics in the 4th quarter valued at about $29,000. Finally, Point72 Asset Management L.P. purchased a new stake in Alterity Therapeutics during the 4th quarter valued at about $108,000. Hedge funds and other institutional investors own 2.14% of the company’s stock.

Alterity Therapeutics Company Profile

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.