Alterity Therapeutics (NASDAQ:ATHE) Trading 2.3% Higher – Still a Buy?

Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE)’s share price shot up 2.3% on Tuesday . The company traded as high as $4.98 and last traded at $4.85. 2,860 shares changed hands during trading, a decline of 88% from the average daily volume of 23,692 shares. The stock had previously closed at $4.74.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ATHE shares. Weiss Ratings restated a “sell (e+)” rating on shares of Alterity Therapeutics in a research note on Friday. LADENBURG THALM/SH SH began coverage on shares of Alterity Therapeutics in a research report on Tuesday, June 16th. They set a “buy” rating and a $10.00 price target for the company. JonesTrading started coverage on shares of Alterity Therapeutics in a research note on Tuesday, June 30th. They set a “buy” rating and a $16.00 price objective for the company. Finally, Zacks Research raised shares of Alterity Therapeutics to a “hold” rating in a research report on Wednesday, June 17th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Alterity Therapeutics has an average rating of “Hold” and an average price target of $13.00.

Alterity Therapeutics Price Performance

The business’s 50 day moving average is $4.67 and its 200 day moving average is $4.01.

Institutional Investors Weigh In On Alterity Therapeutics

An institutional investor recently bought a new stake in Alterity Therapeutics stock. Citadel Advisors LLC acquired a new stake in shares of Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,144 shares of the company’s stock, valued at approximately $83,000. Citadel Advisors LLC owned about 0.25% of Alterity Therapeutics at the end of the most recent reporting period. 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.