Allarity Therapeutics (NASDAQ:ALLR) Shares Down 1.7% – Time to Sell?

Allarity Therapeutics, Inc. (NASDAQ:ALLR) was down 1.7% on Friday . The stock traded as low as $1.12 and last traded at $1.14. Approximately 58,992 shares traded hands during trading, a decline of 66% from the average daily volume of 173,657 shares. The stock had previously closed at $1.16.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Allarity Therapeutics in a research report on Wednesday, October 8th. Ascendiant Capital Markets boosted their price target on Allarity Therapeutics from $9.00 to $9.25 and gave the stock a “buy” rating in a report on Friday, September 26th. Finally, Wall Street Zen raised Allarity Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.25.

Allarity Therapeutics Stock Performance

The company has a fifty day simple moving average of $1.35 and a 200 day simple moving average of $1.22. The stock has a market capitalization of $18.01 million, a price-to-earnings ratio of -1.93 and a beta of 0.23.

Allarity Therapeutics (NASDAQ:ALLR) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.04. As a group, equities analysts predict that Allarity Therapeutics, Inc. will post -78.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC bought a new stake in shares of Allarity Therapeutics in the 2nd quarter valued at $27,000. XTX Topco Ltd bought a new position in Allarity Therapeutics during the second quarter worth $51,000. Geode Capital Management LLC lifted its holdings in Allarity Therapeutics by 49.3% in the second quarter. Geode Capital Management LLC now owns 50,650 shares of the company’s stock valued at $51,000 after buying an additional 16,729 shares during the period. Citadel Advisors LLC bought a new stake in Allarity Therapeutics during the third quarter valued at $149,000. Finally, Private Advisor Group LLC acquired a new stake in Allarity Therapeutics during the 3rd quarter worth about $441,000. Institutional investors and hedge funds own 11.53% of the company’s stock.

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.