Alterity Therapeutics (NASDAQ:ATHE) Stock Price Up 2.3% – Here’s Why

Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE)’s share price traded up 2.3% on Tuesday . The company traded as high as $4.98 and last traded at $4.85. Approximately 2,860 shares were traded during mid-day trading, a decline of 88% from the average session volume of 23,692 shares. The stock had previously closed at $4.74.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. LADENBURG THALM/SH SH initiated coverage on Alterity Therapeutics in a research report on Tuesday, June 16th. They set a “buy” rating and a $10.00 target price for the company. Zacks Research raised Alterity Therapeutics to a “hold” rating in a research report on Wednesday, June 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Alterity Therapeutics in a research note on Friday. Finally, JonesTrading initiated coverage on shares of Alterity Therapeutics in a report on Tuesday, June 30th. They issued a “buy” rating and a $16.00 price target on the stock. Three 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. Based on data from MarketBeat, Alterity Therapeutics has an average rating of “Hold” and an average target price of $13.00.

Alterity Therapeutics Stock Up 2.3%

The firm has a 50 day moving average of $4.67 and a 200-day moving average of $4.01.

Institutional Trading of Alterity Therapeutics

A hedge fund recently bought a new position in Alterity Therapeutics stock. Citadel Advisors LLC bought a new stake in shares of Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 22,144 shares of the company’s stock, valued at approximately $83,000. Citadel Advisors LLC owned 0.25% of Alterity Therapeutics as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 2.14% of the company’s stock.

Alterity Therapeutics Company Profile

Alterity Therapeutics is a clinical-stage biotechnology company focused on the development of novel treatments for neurological and neurodegenerative disorders. The company’s research portfolio centers on small molecules designed to target underlying disease mechanisms, with an emphasis on improving synaptic function and mitigating neuroinflammation.

Among its lead assets is trofinetide (NNZ-2566), a peptide analog derived from insulin-like growth factor 1, which is being investigated for the treatment of Rett syndrome and Fragile X syndrome in ongoing clinical trials.