Allarity Therapeutics, Inc. (NASDAQ:ALLR) Short Interest Down 27.1% in March

Allarity Therapeutics, Inc. (NASDAQ:ALLR) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 478,600 shares, a decrease of 27.1% from the February 28th total of 656,500 shares. Based on an average trading volume of 2,630,000 shares, the short-interest ratio is presently 0.2 days. Approximately 14.1% of the shares of the stock are short sold.

Institutional Trading of Allarity Therapeutics

An institutional investor recently bought a new position in Allarity Therapeutics stock. Stonepine Capital Management LLC bought a new stake in Allarity Therapeutics, Inc. (NASDAQ:ALLR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 67,289 shares of the company’s stock, valued at approximately $79,000. Stonepine Capital Management LLC owned approximately 1.52% of Allarity Therapeutics as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 11.53% of the company’s stock.

Allarity Therapeutics Stock Down 9.6 %

NASDAQ ALLR opened at $0.94 on Tuesday. The business has a 50 day moving average price of $1.03 and a 200 day moving average price of $1.29. Allarity Therapeutics has a 1-year low of $0.68 and a 1-year high of $185.82.

Allarity Therapeutics declared that its Board of Directors has initiated a share repurchase program on Monday, March 3rd that allows the company to buyback $5.00 million in shares. This buyback authorization allows the company to buy up to 128.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Allarity Therapeutics Company Profile

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.