Alterity Therapeutics Limited (NASDAQ:ATHE) Sees Large Drop in Short Interest

Alterity Therapeutics Limited (NASDAQ:ATHE) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 23,100 shares, a drop of 12.5% from the March 15th total of 26,400 shares. Based on an average daily volume of 39,600 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.3% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, Benchmark reiterated a “speculative buy” rating and set a $4.00 price objective on shares of Alterity Therapeutics in a report on Thursday, March 7th.

Hedge Funds Weigh In On Alterity Therapeutics

An institutional investor recently raised its position in Alterity Therapeutics stock. Millennium Management LLC raised its holdings in Alterity Therapeutics Limited (NASDAQ:ATHE) by 633.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 96,838 shares of the company’s stock after buying an additional 83,633 shares during the period. Millennium Management LLC owned about 2.41% of Alterity Therapeutics worth $34,000 as of its most recent filing with the Securities and Exchange Commission. 2.14% of the stock is currently owned by institutional investors and hedge funds.

Alterity Therapeutics Trading Down 16.7 %

Alterity Therapeutics stock traded down $0.49 during mid-day trading on Monday, reaching $2.45. The stock had a trading volume of 439,933 shares, compared to its average volume of 74,247. Alterity Therapeutics has a fifty-two week low of $1.55 and a fifty-two week high of $5.41. The stock’s 50-day simple moving average is $1.92 and its 200-day simple moving average is $2.20.

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.