Short Interest in Alterity Therapeutics Limited (NASDAQ:ATHE) Rises By 556.6%

Alterity Therapeutics Limited (NASDAQ:ATHE) was the target of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 553,500 shares, an increase of 556.6% from the January 15th total of 84,300 shares. Based on an average trading volume of 448,900 shares, the days-to-cover ratio is currently 1.2 days. Approximately 6.4% of the company’s stock are sold short.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Alterity Therapeutics

A hedge fund recently raised its stake in Alterity Therapeutics stock. HB Wealth Management LLC grew its position in shares of Alterity Therapeutics Limited (NASDAQ:ATHE) by 34.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,883 shares of the company’s stock after purchasing an additional 8,100 shares during the quarter. HB Wealth Management LLC owned approximately 0.44% of Alterity Therapeutics worth $110,000 as of its most recent SEC filing. Institutional investors own 2.14% of the company’s stock.

Alterity Therapeutics Stock Down 2.9 %

NASDAQ:ATHE traded down $0.13 during trading hours on Wednesday, hitting $4.22. The stock had a trading volume of 40,285 shares, compared to its average volume of 1,083,895. Alterity Therapeutics has a one year low of $1.00 and a one year high of $5.87. The company has a 50 day simple moving average of $3.23 and a two-hundred day simple moving average of $1.97.

About Alterity Therapeutics

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.