Alterity Therapeutics Limited (NASDAQ:ATHE) Short Interest Down 49.6% in January

Alterity Therapeutics Limited (NASDAQ:ATHE) was the recipient of a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 84,300 shares, a drop of 49.6% from the December 31st total of 167,300 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 67,100 shares, the days-to-cover ratio is presently 1.3 days.

Alterity Therapeutics Stock Performance

Alterity Therapeutics stock traded up $1.66 during midday trading on Thursday, reaching $4.57. The company’s stock had a trading volume of 22,983,248 shares, compared to its average volume of 1,413,567. Alterity Therapeutics has a 52 week low of $1.00 and a 52 week high of $5.87. The business has a 50-day moving average price of $2.64 and a 200-day moving average price of $1.80.

Wall Street Analysts Forecast Growth

Separately, Maxim Group lifted their price objective on shares of Alterity Therapeutics from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday.

Institutional Trading of Alterity Therapeutics

An institutional investor recently raised its position in Alterity Therapeutics stock. HB Wealth Management LLC increased its holdings in shares of Alterity Therapeutics Limited (NASDAQ:ATHE) by 34.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,883 shares of the company’s stock after buying an additional 8,100 shares during the period. HB Wealth Management LLC owned about 0.44% of Alterity Therapeutics worth $110,000 at the end of the most recent quarter. 2.14% of the stock is owned by hedge funds and other institutional investors.

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.