Alterity Therapeutics (NASDAQ: ATHE) has received an upgrade from analysts at Zacks Research, who have revised their rating to “hold.” This upgrade was detailed in a research report published on Thursday, highlighting a shift in analyst sentiment towards the company.
The stock of Alterity Therapeutics has drawn attention from various research firms. Notably, Weiss Ratings reaffirmed a “sell (e+)” rating earlier this year on January 21. In contrast, Canaccord Genuity Group initiated coverage on the biotechnology firm on December 17, issuing a “speculative buy” rating. Currently, the consensus among analysts includes one “buy,” one “hold,” and one “sell” rating, according to data from MarketBeat.
Recent Institutional Investments in Alterity Therapeutics
In addition to analyst ratings, there have been significant movements among institutional investors regarding Alterity Therapeutics. During the third quarter, HB Wealth Management LLC acquired a new stake valued at approximately $220,000. Meanwhile, Twin Lakes Capital Management LLC increased its holdings by an impressive 2,250.3%, now owning 139,258 shares worth around $524,000 after purchasing an additional 133,333 shares in the last quarter.
Other notable transactions include Citadel Advisors LLC, which also acquired a new stake during the third quarter valued at $83,000, and Greenleaf Trust, which boosted its position by 88.2% to now hold 32,000 shares valued at $120,000 following an acquisition of an extra 15,000 shares. As of now, approximately 2.14% of Alterity’s stock is owned by hedge funds and institutional investors.
About Alterity Therapeutics
Alterity Therapeutics is a clinical-stage biotechnology company that focuses on developing innovative treatments for neurological and neurodegenerative disorders. The firm’s research primarily revolves around small molecules targeting the underlying mechanisms of these diseases, with a strong emphasis on enhancing synaptic function and reducing neuroinflammation.
Among its lead products is trofinetide (NNZ-2566), a peptide analog derived from insulin-like growth factor 1. This compound is currently undergoing clinical trials for the treatment of Rett syndrome and Fragile X syndrome, showcasing the company’s commitment to addressing significant unmet medical needs.
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