Allarity Therapeutics, Inc. (NASDAQ:ALLR) Short Interest Update

Allarity Therapeutics, Inc. (NASDAQ:ALLR) was the recipient of a large decrease in short interest in March. As of March 15th, there was short interest totalling 478,600 shares, a decrease of 27.1% from the February 28th total of 656,500 shares. Approximately 14.1% of the shares of the company are sold short. Based on an average daily trading volume, of 2,630,000 shares, the days-to-cover ratio is currently 0.2 days.

Allarity Therapeutics Price Performance

ALLR opened at $1.04 on Friday. The stock has a fifty day moving average of $1.03 and a 200-day moving average of $1.32. Allarity Therapeutics has a fifty-two week low of $0.68 and a fifty-two week high of $185.82.

Allarity Therapeutics announced that its Board of Directors has authorized a stock repurchase program on Monday, March 3rd that allows the company to repurchase $5.00 million in shares. This repurchase authorization allows the company to buy up to 128.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Allarity Therapeutics

A hedge fund recently bought a new stake in Allarity Therapeutics stock. Stonepine Capital Management LLC bought a new position in shares of Allarity Therapeutics, Inc. (NASDAQ:ALLR) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 67,289 shares of the company’s stock, valued at approximately $79,000. Stonepine Capital Management LLC owned 1.52% of Allarity Therapeutics at the end of the most recent quarter. 11.53% of the stock is owned by institutional investors and hedge funds.

Allarity Therapeutics Company Profile

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.