Allarity Therapeutics, Inc. (NASDAQ:ALLR) Sees Large Drop in Short Interest

Allarity Therapeutics, Inc. (NASDAQ:ALLR) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 614,300 shares, a decline of 5.9% from the February 29th total of 652,700 shares. Approximately 11.8% of the shares of the company are short sold. Based on an average daily trading volume, of 130,600 shares, the days-to-cover ratio is currently 4.7 days.

Hedge Funds Weigh In On Allarity Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of ALLR. Renaissance Technologies LLC acquired a new position in shares of Allarity Therapeutics in the 1st quarter valued at about $233,000. Armistice Capital LLC acquired a new position in shares of Allarity Therapeutics in the 3rd quarter valued at about $195,000. Finally, Sabby Management LLC acquired a new position in Allarity Therapeutics in the 3rd quarter worth about $268,000. Institutional investors and hedge funds own 11.53% of the company’s stock.

Allarity Therapeutics Price Performance

Shares of ALLR stock opened at $0.27 on Tuesday. The business has a 50-day simple moving average of $0.39 and a 200-day simple moving average of $0.52. Allarity Therapeutics has a 52-week low of $0.25 and a 52-week high of $154.40.

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.