Alterity Therapeutics (NASDAQ:ATHE) Stock Sees Selling Pressure At Higher Level: What To Do?

Back on July 1, the Alterity Therapeutics (NASDAQ:ATHE) stock had come into considerable focus among investors after it emerged that the United States Patent and Trademark Office had awarded it a fresh composition of matter patent.

It was a major development for the company but at the same time investors also need to recognise the fact that the Alterity stock had a tough time last week and tanked by as much as 17%. There was no news about the company last week that might have triggered such a selloff in the stock. However, it might be a good idea nonetheless for investors to know about the implications of the new composition of matter patent.

This patent is going to help the company in getting a monopoly when it comes to a new category of iron chaperones. Iron chaperone is a new technology that helps in the distribution of excess iron across the central nervous system.

In this regard, it should be noted that this particular method of iron redistribution could help when it comes to the treatment of conditions like Parkinson’s and Alzheimer’s. Investors could consider keeping an eye on the Alterity stock today and see if it can stage a recovery.

Market Reaction:

On Friday, ATHE stock slumped 16.83% at $1.68 with more than 5.17 million shares, compared to its average volume of 6.38 million shares. The stock had moved within a range of $1.6500 – 1.8500 after opening the trade at $1.83. Over the past 52-week, the stock has been trading within a range of $1.0900 – 5.1500.