Athira Pharma (NASDAQ:LONA) Issues Quarterly Earnings Results

Athira Pharma (NASDAQ:LONA) announced its earnings results on Friday. The company reported ($0.80) EPS for the quarter, topping analysts’ consensus estimates of ($1.90) by $1.10, Zacks reports.

Athira Pharma Trading Up 1.4%

Shares of LONA stock traded up $0.11 during trading hours on Friday, reaching $7.98. 9,289 shares of the company’s stock were exchanged, compared to its average volume of 49,715. Athira Pharma has a 1 year low of $3.52 and a 1 year high of $14.21. The stock has a market cap of $74.93 million, a PE ratio of -1.53 and a beta of 2.04. The stock’s fifty day moving average price is $8.27 and its two-hundred day moving average price is $8.17.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler assumed coverage on shares of Athira Pharma in a report on Wednesday, May 27th. They issued an “overweight” rating and a $20.00 price target on the stock. Citizens Jmp upgraded shares of Athira Pharma from a “market perform” rating to an “outperform” rating and set a $18.00 price objective for the company in a research note on Thursday, July 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Athira Pharma in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Athira Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $16.00.

Institutional Trading of Athira Pharma

A number of institutional investors have recently bought and sold shares of the stock. Focus Partners Wealth acquired a new position in Athira Pharma during the 3rd quarter valued at approximately $35,000. Jane Street Group LLC purchased a new stake in shares of Athira Pharma during the fourth quarter valued at $100,000. Renaissance Technologies LLC increased its position in shares of Athira Pharma by 44.7% in the 4th quarter. Renaissance Technologies LLC now owns 75,147 shares of the company’s stock valued at $569,000 after acquiring an additional 23,223 shares during the period. Millennium Management LLC acquired a new position in shares of Athira Pharma in the 4th quarter valued at $2,456,000. Finally, ADAR1 Capital Management LLC purchased a new position in Athira Pharma in the 4th quarter worth $2,891,000. 57.12% of the stock is currently owned by institutional investors and hedge funds.

About Athira Pharma

Athira Pharma, Inc is a clinical‐stage biopharmaceutical company headquartered in Seattle, Washington, that is dedicated to developing therapies aimed at restoring neuronal health and slowing the progression of neurodegenerative diseases. Founded in 2011, Athira’s research focuses on the Hepatocyte Growth Factor (HGF)/MET pathway as a novel mechanism to promote neuronal repair, synaptic function and overall cognitive performance. The company’s overarching goal is to offer disease‐modifying treatments for conditions such as Alzheimer’s disease, Parkinson’s disease, Huntington’s disease and amyotrophic lateral sclerosis (ALS).

The centerpiece of Athira’s pipeline is fosgonimeton (ATH‐1017), a small‐molecule positive modulator of the HGF/MET system.