Short Interest in Allarity Therapeutics, Inc. (NASDAQ:ALLR) Expands By 30.0%

Allarity Therapeutics, Inc. (NASDAQ:ALLR) was the recipient of a large growth in short interest in February. As of February 15th, there was short interest totalling 635,600 shares, a growth of 30.0% from the January 31st total of 489,100 shares. Currently, 18.8% of the company’s stock are sold short. Based on an average daily trading volume, of 1,820,000 shares, the days-to-cover ratio is presently 0.3 days.

Allarity Therapeutics Price Performance

NASDAQ:ALLR opened at $1.08 on Thursday. The firm has a 50-day moving average of $1.05 and a two-hundred day moving average of $1.79. Allarity Therapeutics has a 1-year low of $0.68 and a 1-year high of $257.40.

Allarity Therapeutics declared that its Board of Directors has approved a share repurchase plan on Monday, March 3rd that allows the company to repurchase $5.00 million in shares. This repurchase authorization allows the company to reacquire up to 128.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Allarity Therapeutics

A hedge fund recently bought a new stake in Allarity Therapeutics stock. Stonepine Capital Management LLC purchased a new position in shares of Allarity Therapeutics, Inc. (NASDAQ:ALLR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 67,289 shares of the company’s stock, valued at approximately $79,000. Stonepine Capital Management LLC owned approximately 1.52% of Allarity Therapeutics at the end of the most recent quarter. 11.53% of the stock is owned by institutional investors.

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.