Canaccord Genuity Group Begins Coverage on Alterity Therapeutics (NASDAQ:ATHE)

Equities research analysts at Canaccord Genuity Group started coverage on shares of Alterity Therapeutics (NASDAQ:ATHE) in a report issued on Wednesday,Benzinga reports. The firm set a “speculative buy” rating on the stock.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Alterity Therapeutics in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.00.

Alterity Therapeutics Stock Up 2.0%

Shares of ATHE stock opened at $3.07 on Wednesday. Alterity Therapeutics has a 1-year low of $2.04 and a 1-year high of $7.00. The stock has a 50 day simple moving average of $3.93 and a 200-day simple moving average of $4.42.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ATHE. Greenleaf Trust purchased a new position in Alterity Therapeutics in the 2nd quarter valued at $70,000. Citadel Advisors LLC acquired a new stake in shares of Alterity Therapeutics in the third quarter valued at about $83,000. HB Wealth Management LLC acquired a new stake in shares of Alterity Therapeutics in the third quarter valued at about $220,000. Finally, Twin Lakes Capital Management LLC lifted its stake in shares of Alterity Therapeutics by 2,250.3% in the third quarter. Twin Lakes Capital Management LLC now owns 139,258 shares of the company’s stock worth $524,000 after buying 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.