Alterity Therapeutics Limited (NASDAQ:ATHE) Short Interest Down 71.2% in February

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

Alterity Therapeutics Price Performance

Shares of NASDAQ:ATHE opened at $3.96 on Friday. The business’s 50 day moving average is $3.74 and its 200 day moving average is $2.22. Alterity Therapeutics has a 52-week low of $1.00 and a 52-week high of $5.87.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. HB Wealth Management LLC increased its stake in Alterity Therapeutics by 34.1% during the 4th quarter. HB Wealth Management LLC now owns 31,883 shares of the company’s stock worth $110,000 after buying an additional 8,100 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Alterity Therapeutics during the fourth quarter worth approximately $29,000. Finally, Point72 Asset Management L.P. acquired a new position in Alterity Therapeutics in the 4th quarter valued at $108,000. Institutional investors and hedge funds own 2.14% of the company’s stock.

Analysts Set New Price Targets

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

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.