Allarity Therapeutics (NASDAQ:ALLR) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Allarity Therapeutics (NASDAQ:ALLR) posted its earnings results on Friday, May 15th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.05, Zacks reports. The firm had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $0.03 million.

Allarity Therapeutics Price Performance

ALLR opened at $1.29 on Wednesday. The company has a market capitalization of $20.51 million, a PE ratio of -1.79 and a beta of 0.52. Allarity Therapeutics has a fifty-two week low of $0.77 and a fifty-two week high of $2.35. The business has a 50-day moving average of $1.49 and a 200-day moving average of $1.23.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ALLR. Wall Street Zen upgraded Allarity Therapeutics to a “hold” rating in a report on Saturday, May 30th. Ascendiant Capital Markets upped their target price on shares of Allarity Therapeutics from $9.75 to $10.25 and gave the company a “buy” rating in a research note on Monday, June 8th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Allarity Therapeutics in a research note on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.25.

Hedge Funds Weigh In On Allarity Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position 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 valued at $51,000 after acquiring an additional 16,729 shares in the last quarter. Jane Street Group LLC bought a new position in Allarity Therapeutics in the 2nd quarter worth approximately $27,000. XTX Topco Ltd acquired a new stake in Allarity Therapeutics in the fourth quarter worth about $36,000. Citadel Advisors LLC bought a new position in Allarity Therapeutics in the third quarter valued at approximately $149,000. Finally, DRW Securities LLC acquired a new position in Allarity Therapeutics in the fourth quarter valued at about $133,000. 11.53% of the stock is currently owned by institutional investors.

About Allarity Therapeutics

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.