Alterity Therapeutics (NASDAQ:ATHE) Trading 1% Higher – Should You Buy?

Alterity Therapeutics Limited (NASDAQ:ATHE) rose 1% on Tuesday . The stock 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.

Wall Street Analysts Forecast Growth

ATHE has been the subject of a number of recent analyst reports. Maxim Group raised their price objective on Alterity Therapeutics from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Benchmark lowered shares of Alterity Therapeutics from a “speculative buy” rating to a “hold” rating in a research report on Monday, February 3rd.

Alterity Therapeutics Stock Performance

The company has a fifty day moving average price of $3.89 and a 200-day moving average price of $2.51.

Institutional Investors Weigh In On Alterity Therapeutics

Hedge funds have recently made changes to their positions in the stock. HB Wealth Management LLC grew its position in Alterity Therapeutics by 34.1% in the fourth quarter. HB Wealth Management LLC now owns 31,883 shares of the company’s stock valued at $110,000 after acquiring an additional 8,100 shares during the period. BNP Paribas Financial Markets acquired a new position in Alterity Therapeutics in the fourth quarter valued at about $29,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Alterity Therapeutics in the fourth quarter valued at about $108,000. 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.