Allarity Therapeutics, Inc. (NASDAQ:ALLR) Short Interest Update

Allarity Therapeutics, Inc. (NASDAQ:ALLR) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 478,600 shares, a drop of 27.1% from the February 28th total of 656,500 shares. Based on an average daily volume of 2,630,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 14.1% of the shares of the company are short sold.

Allarity Therapeutics Price Performance

NASDAQ ALLR opened at $1.04 on Monday. Allarity Therapeutics has a 52-week low of $0.68 and a 52-week high of $185.82. The firm has a 50-day moving average price of $1.03 and a 200 day moving average price of $1.30.

Allarity Therapeutics announced that its Board of Directors has approved a stock buyback program on Monday, March 3rd that permits the company to buyback $5.00 million in outstanding shares. This buyback authorization permits the company to buy up to 128.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Allarity Therapeutics

An institutional investor recently bought a new position in Allarity Therapeutics stock. Stonepine Capital Management LLC bought a new stake in shares of Allarity Therapeutics, Inc. (NASDAQ:ALLR) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 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 hedge funds and other 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.