Allarity Therapeutics, Inc. (NASDAQ:ALLR) Short Interest Update

Allarity Therapeutics, Inc. (NASDAQ:ALLR) saw a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 478,600 shares, a drop of 27.1% from the February 28th total of 656,500 shares. Based on an average daily trading volume, of 2,630,000 shares, the short-interest ratio is currently 0.2 days. Currently, 14.1% of the shares of the company are short sold.

Hedge Funds Weigh In On 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) in the 4th quarter, according to the company in 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 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 11.53% of the company’s stock.

Allarity Therapeutics Trading Down 1.0 %

Shares of NASDAQ ALLR opened at $1.04 on Friday. Allarity Therapeutics has a 12 month low of $0.68 and a 12 month high of $185.82. The stock has a 50 day moving average of $1.03 and a 200-day moving average of $1.32.

Allarity Therapeutics declared that its board has approved a share buyback program on Monday, March 3rd that authorizes the company to buyback $5.00 million in shares. This buyback authorization authorizes the company to purchase up to 128.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors 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.