Short Interest in Alterity Therapeutics Limited (NASDAQ:ATHE) Decreases By 71.2%

Alterity Therapeutics Limited (NASDAQ:ATHE) was the recipient of a large decline in short interest in February. As of February 15th, there was short interest totalling 159,500 shares, a decline of 71.2% from the January 31st total of 553,500 shares. Approximately 1.5% of the company’s shares are sold short. Based on an average daily volume of 454,300 shares, the short-interest ratio is presently 0.4 days.

Alterity Therapeutics Stock Performance

ATHE stock opened at $3.87 on Friday. The firm has a 50 day simple moving average of $3.70 and a 200 day simple moving average of $2.19. Alterity Therapeutics has a 52 week low of $1.00 and a 52 week high of $5.87.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Alterity Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets purchased a new position in shares of Alterity Therapeutics during the 4th quarter valued at $29,000. Point72 Asset Management L.P. purchased a new stake in shares of Alterity Therapeutics during the fourth quarter worth $108,000. Finally, 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 purchasing an additional 8,100 shares during the last quarter. 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.