Astria Therapeutics (NASDAQ:ATXS) Shares Cross Above 50-Day Moving Average - Should You Sell?

Key Points

• Astria Therapeutics' share price crossed above its 50-day moving average of $6.08, reaching a high of $6.67 during trading.
• Wall Street analysts have a consensus rating of "Buy" for ATXS, with target prices reaching as high as $47.00.
• The company reported a quarterly loss of ($0.58) earnings per share, missing analyst estimates of ($0.48).

Shares of Astria Therapeutics, Inc. (NASDAQ:ATXS - Get Free Report) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $6.08 and traded as high as $6.67. Astria Therapeutics shares last traded at $6.28, with a volume of 177,444 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $47.00 price target on shares of Astria Therapeutics in a research report on Wednesday, May 14th. HC Wainwright restated a "buy" rating and issued a $16.00 price target on shares of Astria Therapeutics in a research report on Friday, June 13th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $29.00.

Astria Therapeutics Stock Performance

The company has a market capitalization of $375.26 million, a price-to-earnings ratio of -3.56 and a beta of 0.48. The firm's 50-day simple moving average is $6.12 and its 200-day simple moving average is $5.76.

Astria Therapeutics (NASDAQ:ATXS - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The biotechnology company reported ($0.57) EPS for the quarter, topping analysts' consensus estimates of ($0.61) by $0.04. Equities research analysts forecast that Astria Therapeutics, Inc. will post -1.65 earnings per share for the current year.

Hedge Funds Weigh In On Astria Therapeutics

A number of institutional investors have recently modified their holdings of the stock. American Century Companies Inc. raised its stake in shares of Astria Therapeutics by 8.3% in the second quarter. American Century Companies Inc. now owns 56,442 shares of the biotechnology company's stock worth $303,000 after acquiring an additional 4,335 shares during the last quarter. Rhumbline Advisers grew its position in shares of Astria Therapeutics by 18.2% during the 2nd quarter. Rhumbline Advisers now owns 75,674 shares of the biotechnology company's stock worth $406,000 after buying an additional 11,663 shares during the period. JPMorgan Chase & Co. grew its position in shares of Astria Therapeutics by 4,607.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,696,071 shares of the biotechnology company's stock worth $9,091,000 after buying an additional 1,660,039 shares during the period. Bailard Inc. acquired a new stake in shares of Astria Therapeutics during the 2nd quarter worth approximately $142,000. Finally, Farther Finance Advisors LLC grew its position in shares of Astria Therapeutics by 185.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,471 shares of the biotechnology company's stock worth $29,000 after buying an additional 3,557 shares during the period. 98.98% of the stock is owned by institutional investors.

Astria Therapeutics Company Profile

Astria Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for allergic and immunological diseases in the United States. Its lead product candidate is STAR-0215, a monoclonal antibody inhibitor of plasma kallikrein, which is in Phase 1b/2 clinical trials for the treatment of hereditary angioedema.