Allarity Therapeutics, Inc. (NASDAQ:ALLR) Short Interest Up 30.0% in February

Allarity Therapeutics, Inc. (NASDAQ:ALLR) was the target of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 635,600 shares, an increase of 30.0% from the January 31st total of 489,100 shares. Approximately 18.8% of the company’s shares are sold short. Based on an average daily trading volume, of 1,820,000 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of Allarity Therapeutics

An institutional investor recently bought a new position in Allarity Therapeutics stock. Stonepine Capital Management LLC bought a new position in shares of Allarity Therapeutics, Inc. (NASDAQ:ALLR) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 67,289 shares of the company’s stock, valued at approximately $79,000. Stonepine Capital Management LLC owned 1.52% of Allarity Therapeutics at the end of the most recent quarter. Institutional investors own 11.53% of the company’s stock.

Allarity Therapeutics Trading Up 2.3 %

NASDAQ:ALLR opened at $0.90 on Wednesday. Allarity Therapeutics has a one year low of $0.68 and a one year high of $257.40. The firm’s 50 day simple moving average is $1.05 and its 200 day simple moving average is $1.80.

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

About Allarity Therapeutics

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.