Short Interest in Alterity Therapeutics Limited (NASDAQ:ATHE) Decreases By 71.2%

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

Hedge Funds Weigh In On Alterity Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATHE. Point72 Asset Management L.P. acquired a new stake in Alterity Therapeutics during the fourth quarter valued at approximately $108,000. BNP Paribas Financial Markets bought a new position in shares of Alterity Therapeutics in the fourth quarter valued at $29,000. Finally, HB Wealth Management LLC lifted its position in shares of Alterity Therapeutics by 34.1% during the 4th 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 last quarter. 2.14% of the stock is owned by institutional investors.

Alterity Therapeutics Stock Performance

ATHE stock opened at $3.87 on Friday. Alterity Therapeutics has a 52 week low of $1.00 and a 52 week high of $5.87. The firm’s 50-day moving average is $3.70 and its two-hundred day moving average is $2.19.

Analysts Set New Price Targets

ATHE has been the topic of several analyst reports. Benchmark cut Alterity Therapeutics from a “speculative buy” rating to a “hold” rating in a research report on Monday, February 3rd. Maxim Group increased their price target on Alterity Therapeutics from $8.00 to $12.00 and gave the stock a “buy” rating in a research note 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.