Allarity Therapeutics, Inc. (NASDAQ:ALLR) Short Interest Up 150.7% in March

Allarity Therapeutics, Inc. (NASDAQ:ALLR) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,200,000 shares, an increase of 150.7% from the March 15th total of 478,600 shares. Based on an average daily trading volume, of 2,700,000 shares, the short-interest ratio is currently 0.4 days. Currently, 9.2% of the company’s shares are sold short.

Institutional Investors Weigh In On Allarity Therapeutics

An institutional investor recently bought a new position in Allarity Therapeutics stock. Stonepine Capital Management LLC purchased a new stake in Allarity Therapeutics, Inc. (NASDAQ:ALLR) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 67,289 shares of the company’s stock, valued at approximately $79,000. Stonepine Capital Management LLC owned 1.52% of Allarity Therapeutics at the end of the most recent quarter. Hedge funds and other institutional investors own 11.53% of the company’s stock.

Allarity Therapeutics Stock Up 17.4 %

Allarity Therapeutics stock opened at $0.84 on Wednesday. The company has a 50 day moving average price of $0.92 and a 200-day moving average price of $1.15. Allarity Therapeutics has a fifty-two week low of $0.61 and a fifty-two week high of $103.80.

Allarity Therapeutics announced that its board has approved a stock repurchase plan on Monday, March 3rd that allows the company to repurchase $5.00 million in shares. This repurchase authorization allows the company to buy up to 128.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

About Allarity Therapeutics

Allarity Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in developing oncology therapeutics using drug-specific companion diagnostics generated by its drug response predictor technology. Its drug candidates include Stenoparib, a poly-ADP-ribose polymerase inhibitor that is in Phase 2 clinical trials for ovarian cancer; Dovitinib, a pan- tyrosine kinase inhibitor for the treatment of renal cell carcinoma; IXEMPRA (ixabepilone), a selective microtubule inhibitor in phase 2 for the treatment of metastatic breast cancer; LiPlaCis, a liposomal formulation of cisplatin, which is in Phase 2 clinical trials for metastatic breast cancer; and 2X-111, a liposomal formulation of doxorubicin that is in Phase 2 clinical trials for metastatic breast cancer and glioblastoma multiforme.