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

Shares of Allarity Therapeutics, Inc. (NASDAQ:ALLR) were down 0.7% during trading on Friday . The company traded as low as $1.40 and last traded at $1.42. 54,487 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 79,940 shares. The stock had previously closed at $1.43.

Analyst Upgrades and Downgrades

ALLR has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Allarity Therapeutics in a research note on Friday, July 17th. Wall Street Zen raised Allarity Therapeutics to a “hold” rating in a research note on Saturday, May 30th. Finally, Ascendiant Capital Markets raised their price objective on 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.25.

Allarity Therapeutics Stock Performance

The company’s fifty day simple moving average is $1.30 and its 200-day simple moving average is $1.31. The company has a market capitalization of $22.59 million, a P/E ratio of -1.82 and a beta of 0.56.

Allarity Therapeutics (NASDAQ:ALLR) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.04. On average, sell-side analysts predict that Allarity Therapeutics, Inc. will post -0.92 EPS for the current year.

Hedge Funds Weigh In On Allarity Therapeutics

A number of large investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its holdings in Allarity Therapeutics by 274.1% during the fourth 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. Private Advisor Group LLC purchased a new position in shares of Allarity Therapeutics in the 3rd quarter valued at $441,000. DRW Securities LLC purchased a new position in shares of Allarity Therapeutics in the 4th quarter valued at $133,000. Citadel Advisors LLC bought a new position in shares of Allarity Therapeutics in the 3rd quarter worth $149,000. Finally, XTX Topco Ltd bought a new position in shares of Allarity Therapeutics in the 2nd quarter worth $51,000. Institutional investors own 11.53% of the company’s stock.

Allarity Therapeutics Company Profile

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.