Allarity Therapeutics (NASDAQ:ALLR) Stock Price Expected to Rise, Ascendiant Capital Markets Analyst Says

Allarity Therapeutics (NASDAQ:ALLR) had its price target increased by Ascendiant Capital Markets from $9.25 to $9.50 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Several other equities research analysts have also commented on the stock. Wall Street Zen upgraded shares of Allarity Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Allarity Therapeutics in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $9.50.

Allarity Therapeutics Price Performance

NASDAQ ALLR opened at $1.17 on Tuesday. Allarity Therapeutics has a 1-year low of $0.61 and a 1-year high of $2.35. The company has a market capitalization of $18.49 million, a P/E ratio of -1.98 and a beta of 0.23. The business has a 50 day moving average price of $1.33 and a 200 day moving average price of $1.22.

Allarity Therapeutics (NASDAQ:ALLR) last posted its earnings results on Friday, November 14th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. On average, research analysts expect that Allarity Therapeutics will post -78.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALLR. Geode Capital Management LLC boosted its stake in shares of Allarity Therapeutics by 49.3% during the 2nd quarter. Geode Capital Management LLC now owns 50,650 shares of the company’s stock worth $51,000 after purchasing an additional 16,729 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Allarity Therapeutics in the second quarter valued at approximately $27,000. XTX Topco Ltd purchased a new position in shares of Allarity Therapeutics during the second quarter valued at approximately $51,000. Citadel Advisors LLC acquired a new stake in Allarity Therapeutics during the third quarter worth approximately $149,000. Finally, Private Advisor Group LLC acquired a new stake in Allarity Therapeutics during the third quarter worth approximately $441,000. 11.53% of the stock is currently owned by hedge funds and other institutional investors.

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.