Athira Pharma (NASDAQ:LONA) Trading Up 2.2% – Here’s Why

Athira Pharma, Inc. (NASDAQ:LONA)’s stock price traded up 2.2% during trading on Friday . The stock traded as high as $9.70 and last traded at $9.60. 39,000 shares changed hands during trading, a decline of 28% from the average daily volume of 53,808 shares. The stock had previously closed at $9.39.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LONA shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Athira Pharma in a research note on Monday, May 11th. Piper Sandler began 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. Finally, Wall Street Zen raised shares of Athira Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $15.00.

Athira Pharma Trading Up 2.2%

The company has a market capitalization of $90.14 million, a P/E ratio of -1.84 and a beta of 2.01. The firm has a 50-day moving average price of $9.19.

Athira Pharma (NASDAQ:LONA) last announced its earnings results on Thursday, May 7th. The company reported ($1.73) EPS for the quarter. As a group, equities analysts anticipate that Athira Pharma, Inc. will post -3.12 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Focus Partners Wealth acquired a new stake in Athira Pharma during the 3rd quarter valued at $35,000. Renaissance Technologies LLC boosted its position in 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 buying an additional 23,223 shares during the last quarter. Jane Street Group LLC purchased a new position in Athira Pharma in the 4th quarter valued at about $100,000. Spruce Street Capital LP acquired a new stake in shares of Athira Pharma during the fourth quarter valued at about $2,980,000. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Athira Pharma during the fourth quarter valued at about $2,891,000. 57.12% of the stock is currently owned by hedge funds and other institutional investors.

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.