Peter Ashley Marks Buys 47,620 Shares of Alterity Therapeutics (NASDAQ:ATHE) Stock

Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) Director Peter Ashley Marks bought 47,620 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were bought at an average price of $0.50 per share, with a total value of $23,810.00. Following the completion of the purchase, the director owned 191,340 shares in the company, valued at approximately $95,670. The trade was a 33.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Alterity Therapeutics Stock Performance

NASDAQ ATHE traded down $0.03 during midday trading on Tuesday, hitting $4.51. The company had a trading volume of 16,172 shares, compared to its average volume of 17,598. The firm has a fifty day simple moving average of $4.78 and a two-hundred day simple moving average of $4.31. Alterity Therapeutics Limited – Sponsored ADR has a fifty-two week low of $2.66 and a fifty-two week high of $5.89.

Alterity Therapeutics (NASDAQ:ATHE) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.28) earnings per share (EPS) for the quarter. The firm had revenue of $0.31 million for the quarter. Equities research analysts forecast that Alterity Therapeutics Limited – Sponsored ADR will post -0.12 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on ATHE. LADENBURG THALM/SH SH assumed coverage on Alterity Therapeutics in a report on Tuesday, June 16th. They issued a “buy” rating and a $10.00 price target for the company. JonesTrading initiated coverage on Alterity Therapeutics in a report on Tuesday, June 30th. They set a “buy” rating and a $16.00 price objective on the stock. Zacks Research upgraded Alterity Therapeutics to a “hold” rating in a research report on Wednesday, June 17th. UBS Group set a $12.00 target price on Alterity Therapeutics in a research note on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alterity Therapeutics in a research report on Friday, July 17th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Alterity Therapeutics stock. Greenleaf Trust raised its stake in shares of Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) by 93.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,000 shares of the company’s stock after purchasing an additional 30,000 shares during the quarter. Greenleaf Trust owned 0.70% of Alterity Therapeutics worth $333,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 2.14% of the company’s stock.

About Alterity Therapeutics

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.