Allarity Therapeutics (NASDAQ:ALLR) Trading 2.7% Higher – Time to Buy?

Allarity Therapeutics, Inc. (NASDAQ:ALLR) shot up 2.7% on Wednesday . The stock traded as high as $1.1850 and last traded at $1.16. 162,153 shares traded hands during mid-day trading, an increase of 5% from the average session volume of 154,370 shares. The stock had previously closed at $1.13.

Wall Street Analysts Forecast Growth

ALLR has been the topic of a number of research analyst reports. Wall Street Zen upgraded Allarity Therapeutics to a “hold” rating in a research note on Saturday, May 30th. Ascendiant Capital Markets increased their price objective on shares of Allarity Therapeutics from $9.75 to $10.25 and gave the company a “buy” rating in a research report on Monday, June 8th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Allarity Therapeutics in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.25.

Allarity Therapeutics Trading Down 2.9%

The business’s 50-day simple moving average is $1.46 and its 200-day simple moving average is $1.24. The company has a market capitalization of $18.54 million, a PE ratio of -1.62 and a beta of 0.53.

Allarity Therapeutics (NASDAQ:ALLR) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.05. The business had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.03 million. Sell-side analysts forecast that Allarity Therapeutics, Inc. will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Allarity Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALLR. Private Advisor Group LLC acquired a new position in shares of Allarity Therapeutics in the 3rd quarter valued at about $441,000. Renaissance Technologies LLC grew its holdings in Allarity Therapeutics by 274.1% during the fourth quarter. Renaissance Technologies LLC now owns 247,612 shares of the company’s stock worth $267,000 after acquiring an additional 181,426 shares during the period. DRW Securities LLC acquired a new stake in Allarity Therapeutics during the fourth quarter worth about $133,000. Capital Advisors Inc. OK acquired a new stake in Allarity Therapeutics during the fourth quarter worth about $108,000. Finally, Citadel Advisors LLC purchased a new position in Allarity Therapeutics during the third quarter valued at approximately $149,000. 11.53% of the stock is owned by institutional investors and hedge funds.

Allarity Therapeutics Company Profile

Allarity Therapeutics A/S (NASDAQ:ALLR) is a clinical‐stage biotechnology company focused on advancing precision medicine in oncology and other severe diseases. The company leverages predictive biomarkers and proprietary companion diagnostic tools to identify patient populations most likely to respond to its therapeutic candidates. By integrating molecular profiling early in development, Allarity aims to improve clinical trial success rates and accelerate the path to regulatory approval.

The company’s lead pipeline includes novel small‐molecule inhibitors engineered to target key pathways in solid tumors, with two primary assets currently in mid‐stage clinical trials.