Alterity Therapeutics (NASDAQ:ATHE) Trading 8.5% Higher – Still a Buy?

Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) rose 8.5% on Friday . The company traded as high as $5.50 and last traded at $5.00. Approximately 302,764 shares were traded during trading, an increase of 110% from the average daily volume of 143,874 shares. The stock had previously closed at $4.61.

Alterity Therapeutics Trading Up 8.5%

The business has a fifty day moving average price of $4.32 and a two-hundred day moving average price of $3.89.

Hedge Funds Weigh In On Alterity Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of ATHE. Point72 Asset Management L.P. purchased a new position in Alterity Therapeutics during the 4th quarter valued at about $108,000. Greenleaf Trust acquired a new stake in Alterity Therapeutics in the 2nd quarter valued at about $70,000. BNP Paribas Financial Markets acquired a new stake in Alterity Therapeutics in the 4th quarter valued at about $29,000. Finally, HB Wealth Management LLC raised its position in Alterity Therapeutics by 17.6% in the 1st quarter. HB Wealth Management LLC now owns 37,483 shares of the company’s stock valued at $129,000 after purchasing an additional 5,600 shares in the last quarter. 2.14% of the stock is currently owned by hedge funds and other institutional investors.

About Alterity Therapeutics

Alterity Therapeutics Limited engages in the research and development of therapeutic drugs to treat Alzheimer’s disease, Huntington disease, Parkinson’s disease, and other neurological disorders in Australia. The company’s lead drug candidate is ATH434 that is in Phase I clinical trial for the treatment of Parkinson’s disease.