Alterity Therapeutics Limited [ATHE] Stock trading around $2.83 per share: What’s Next?

Alterity Therapeutics Limited [NASDAQ: ATHE] stock went on an upward path that rose over 146.09% on Monday, amounting to a one-week price increase of more than 135.83%. The company report on November 16, 2020 that Alterity announces approval of US patent for next generation compounds to treat neurodegenerative diseases.

Alterity Therapeutics (ASX: ATH, NASDAQ: ATHE) (“Alterity” or “the Company”) has announced the allowance of a new composition of matter patent by the United States Patent and Trademark Office (USPTO). The new patent is the product of in-house discovery research and is central to Alterity’s next generation drug development portfolio focussed on neurodegenerative diseases.

The patent, entitled “Compounds for and Methods of Treating Diseases” (Application No. 16/818,641), covers more than 150 novel pharmaceutical compositions that are designed to redistribute the labile iron implicated in Parkinson’s disease, Alzheimer’s disease and other neurodegenerative conditions. The patent, which was filed in March of 2020, underwent prioritized examination by the USPTO.

Over the last 12 months, ATHE stock rose by 162.04%.

The market cap for the stock reached $60.28 million, with 15.36 million shares outstanding and 13.17 million shares in the current float. Compared to the average trading volume of 120.68K shares, ATHE stock reached a trading volume of 114170645 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Alterity Therapeutics Limited [ATHE]:

The Average True Range (ATR) for Alterity Therapeutics Limited is set at 0.29 The Price to Book ratio for the last quarter was 8.32.

ATHE Stock Performance Analysis:

Alterity Therapeutics Limited [ATHE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 135.83. With this latest performance, ATHE shares gained by 53.81% in over the last four-week period, additionally plugging by 363.93% over the last 6 months – not to mention a rise of 162.04% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ATHE stock in for the last two-week period is set at 78.16, with the RSI for the last a single of trading hit 86.59, and the three-weeks RSI is set at 71.05 for Alterity Therapeutics Limited [ATHE]. The present Moving Average for the last 50 days of trading for this stock 1.83, while it was recorded at 1.50 for the last single week of trading, and 1.23 for the last 200 days.

Insight into Alterity Therapeutics Limited Fundamentals:

Return on Total Capital for ATHE is now -116.98, given the latest momentum, and Return on Invested Capital for the company is -113.53. Return on Equity for this stock declined to -113.53, with Return on Assets sitting at -90.26. When it comes to the capital structure of this company, Alterity Therapeutics Limited [ATHE] has a Total Debt to Total Equity ratio set at 0.47. Additionally, ATHE Total Debt to Total Capital is recorded at 0.47, with Total Debt to Total Assets ending up at 0.34. Long-Term Debt to Equity for the company is recorded at 0.01, with the Long-Term Debt to Total Capital now at 0.01.

Reflecting on the efficiency of the workforce at the company, Alterity Therapeutics Limited [ATHE] managed to generate an average of -$1,121,400 per employee.Alterity Therapeutics Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.60 and a Current Ratio set at 3.60.

Alterity Therapeutics Limited [ATHE] Insider Position Details

There are presently around $1 million, or 3.70% of ATHE stock, in the hands of institutional investors. The top three institutional holders of ATHE stocks are: MORGAN STANLEY with ownership of 445,978, which is approximately 4.813% of the company’s market cap and around 18.70% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 162,219 shares of the stock with an approximate value of $0.19 million in ATHE stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $14000.0 in ATHE stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Alterity Therapeutics Limited stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 2 institutional holders increased their position in Alterity Therapeutics Limited [NASDAQ:ATHE] by around 182,700 shares. Additionally, 7 investors decreased positions by around 84,382 shares, while 5 investors held positions by with 356,612 shares. The mentioned changes placed institutional holdings at 623,694 shares, according to the latest SEC report filing. ATHE stock had 1 new institutional investments in for a total of 162,219 shares, while 6 institutional investors sold positions of 31,506 shares during the same period.

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