Alterity Therapeutics (NASDAQ:ATHE) received an upgrade to a “hold” rating from Zacks Research, according to a report released on January 21, 2024. This upgrade comes after a series of evaluations from various research analysts, reflecting a mixed sentiment towards the company’s stock.
In addition to Zacks’ upgrade, Weiss Ratings reaffirmed a “sell (e+)” rating for Alterity Therapeutics. Meanwhile, Canaccord Genuity initiated coverage on the company in a research note dated December 17, 2023, assigning it a “speculative buy” rating. Currently, one analyst has issued a Buy rating, another has assigned a Hold rating, and a third has designated a Sell rating, resulting in an overall consensus rating of “Hold,” as reported by MarketBeat.
Institutional Investments in Alterity Therapeutics
Recent activity by institutional investors indicates growing interest in Alterity Therapeutics. During the third quarter, HB Wealth Management LLC acquired a new stake worth $220,000. Twin Lakes Capital Management LLC significantly increased its position by 2,250.3%, now owning 139,258 shares valued at approximately $524,000 after purchasing an additional 133,333 shares in the last quarter.
Citadel Advisors LLC also entered the fray by acquiring a new stake valued at $83,000 in the same period. Greenleaf Trust boosted its holdings by 88.2%, owning 32,000 shares now estimated at $120,000 after acquiring an additional 15,000 shares. Currently, approximately 2.14% of Alterity Therapeutics’ stock is owned by hedge funds and other institutional investors.
About Alterity Therapeutics
Alterity Therapeutics is a clinical-stage biotechnology firm focused on developing innovative treatments for neurological and neurodegenerative disorders. The company’s research portfolio includes small molecules aimed at targeting underlying disease mechanisms with a focus on enhancing synaptic function and reducing neuroinflammation.
Among its leading assets is trofinetide (NNZ-2566), a peptide analog derived from insulin-like growth factor 1. This treatment is currently under investigation in clinical trials for conditions such as Rett syndrome and Fragile X syndrome.
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