Allarity Therapeutics, Inc. (NASDAQ:ALLR) Short Interest Down 41.0% in May

Allarity Therapeutics, Inc. (NASDAQ:ALLR) was the target of a significant drop in short interest in May. As of May 29th, there was short interest totaling 175,238 shares, a drop of 41.0% from the May 14th total of 296,872 shares. Based on an average daily volume of 292,130 shares, the short-interest ratio is currently 0.6 days. Approximately 1.1% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ALLR shares. Weiss Ratings restated a “sell (e+)” rating on shares of Allarity Therapeutics in a research report on Monday, April 20th. Ascendiant Capital Markets raised their price target on Allarity Therapeutics from $9.75 to $10.25 and gave the company a “buy” rating in a research report on Monday, June 8th. Finally, Wall Street Zen upgraded Allarity Therapeutics to a “hold” rating in a research report on Saturday, May 30th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.25.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in shares of Allarity Therapeutics in the second quarter worth about $27,000. XTX Topco Ltd purchased a new position in shares of Allarity Therapeutics in the fourth quarter worth about $36,000. Geode Capital Management LLC increased its holdings in shares of Allarity Therapeutics by 49.3% in the second quarter. Geode Capital Management LLC now owns 50,650 shares of the company’s stock worth $51,000 after buying an additional 16,729 shares during the period. Capital Advisors Inc. OK purchased a new position in shares of Allarity Therapeutics in the fourth quarter worth about $108,000. Finally, DRW Securities LLC purchased a new position in Allarity Therapeutics during the 4th quarter valued at about $133,000. Hedge funds and other institutional investors own 11.53% of the company’s stock.

Allarity Therapeutics Trading Down 3.4%

ALLR opened at $1.43 on Wednesday. The company has a market cap of $22.75 million, a P/E ratio of -1.99 and a beta of 0.52. The business’s 50-day moving average price is $1.46 and its 200-day moving average price is $1.22. Allarity Therapeutics has a 12 month low of $0.77 and a 12 month high of $2.35.

Allarity Therapeutics (NASDAQ:ALLR) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.05. The company had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.03 million. Equities research analysts forecast that Allarity Therapeutics will post -0.92 earnings per share for the current fiscal year.

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.