Allarity Therapeutics (NASDAQ:ALLR) Stock Price Down 0.7% – Here’s Why

Allarity Therapeutics, Inc. (NASDAQ:ALLR)’s stock price fell 0.7% on Friday . The stock traded as low as $1.40 and last traded at $1.42. 54,487 shares changed hands during trading, a decline of 32% from the average session volume of 79,940 shares. The stock had previously closed at $1.43.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wall Street Zen raised shares of Allarity Therapeutics to a “hold” rating in a research note on Saturday, May 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of Allarity Therapeutics in a research note on Friday, July 17th. Finally, Ascendiant Capital Markets raised their target price on shares of Allarity Therapeutics from $9.75 to $10.25 and gave the stock a “buy” rating in a report on Monday, June 8th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.25.

Allarity Therapeutics Price Performance

The firm has a market cap of $22.59 million, a PE ratio of -1.82 and a beta of 0.56. The company has a 50-day simple moving average of $1.30 and a 200-day simple moving average of $1.31.

Allarity Therapeutics (NASDAQ:ALLR) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.04. As a group, equities research analysts predict that Allarity Therapeutics, Inc. will post -0.92 earnings per share for the current year.

Institutional Trading of Allarity Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of ALLR. XTX Topco Ltd bought a new stake in shares of Allarity Therapeutics during the fourth quarter worth $36,000. DRW Securities LLC bought a new position in shares of Allarity Therapeutics in the fourth quarter worth about $133,000. Renaissance Technologies LLC increased its stake in Allarity Therapeutics by 274.1% in the 4th quarter. Renaissance Technologies LLC now owns 247,612 shares of the company’s stock worth $267,000 after buying an additional 181,426 shares during the period. Citadel Advisors LLC purchased a new position in Allarity Therapeutics in the 3rd quarter worth about $149,000. Finally, Private Advisor Group LLC purchased a new position in Allarity Therapeutics in the 3rd quarter worth about $441,000. Hedge funds and other institutional investors own 11.53% of the company’s stock.

About Allarity Therapeutics

Allarity Therapeutics A/S (NASDAQ:ALLR) is a clinical‐stage biotechnology company focused on advancing precision medicine in oncology and other severe diseases. The company leverages predictive biomarkers and proprietary companion diagnostic tools to identify patient populations most likely to respond to its therapeutic candidates. By integrating molecular profiling early in development, Allarity aims to improve clinical trial success rates and accelerate the path to regulatory approval.

The company’s lead pipeline includes novel small‐molecule inhibitors engineered to target key pathways in solid tumors, with two primary assets currently in mid‐stage clinical trials.