Alterity Therapeutics Limited (NASDAQ:ATHE) Sees Significant Growth in Short Interest

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

Hedge Funds Weigh In On Alterity Therapeutics

A hedge fund recently raised its stake in Alterity Therapeutics stock. HB Wealth Management LLC lifted its holdings in Alterity Therapeutics Limited (NASDAQ:ATHE) by 34.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,883 shares of the company’s stock after buying an additional 8,100 shares during the quarter. HB Wealth Management LLC owned about 0.44% of Alterity Therapeutics worth $110,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 2.14% of the company’s stock.

Alterity Therapeutics Stock Performance

NASDAQ:ATHE opened at $4.20 on Thursday. Alterity Therapeutics has a 12 month low of $1.00 and a 12 month high of $5.87. The company’s 50-day moving average price is $3.27 and its two-hundred day moving average price is $1.98.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ATHE shares. Benchmark lowered shares of Alterity Therapeutics from a “speculative buy” rating to a “hold” rating in a research report on Monday, February 3rd. Maxim Group boosted their price target on Alterity Therapeutics from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, January 30th.

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.