Alterity Therapeutics (NASDAQ:ATHE) Stock Price Down 4.1% – Time to Sell?

Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE)’s share price dropped 4.1% during trading on Thursday . The company traded as low as $3.47 and last traded at $3.48. Approximately 9,491 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 183,420 shares. The stock had previously closed at $3.63.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Alterity Therapeutics in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.00.

Alterity Therapeutics Stock Performance

The firm has a 50-day moving average price of $4.22 and a 200 day moving average price of $4.52.

Hedge Funds Weigh In On Alterity Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC purchased a new stake in Alterity Therapeutics in the 3rd quarter worth approximately $83,000. HB Wealth Management LLC acquired a new position in shares of Alterity Therapeutics in the third quarter worth about $220,000. Greenleaf Trust boosted its stake in Alterity Therapeutics by 88.2% during the 3rd quarter. Greenleaf Trust now owns 32,000 shares of the company’s stock valued at $120,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Twin Lakes Capital Management LLC grew its position in shares of Alterity Therapeutics by 2,250.3% in the 3rd quarter. Twin Lakes Capital Management LLC now owns 139,258 shares of the company’s stock worth $524,000 after acquiring an additional 133,333 shares in the last quarter. 2.14% of the stock is owned by institutional investors and hedge funds.

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.