Astria Therapeutics (NASDAQ:ATXS) Shares Gap Up - What's Next?

Key Points

• Astria Therapeutics shares opened significantly higher at $11.93, up from a previous close of $8.47, following increased analyst ratings.
• HC Wainwright raised their price target for Astria Therapeutics to $20.00, while Cantor Fitzgerald set a much higher target at $49.00, reflecting strong confidence in the stock.
• The company, which focuses on therapeutics for allergic and immunological diseases, reported earnings of ($0.57) per share, better than the expected ($0.61).

Shares of Astria Therapeutics, Inc. (NASDAQ:ATXS - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $8.47, but opened at $11.93. Astria Therapeutics shares last traded at $11.79, with a volume of 13,846,693 shares traded.

Analyst Ratings Changes

A number of research firms have recently issued reports on ATXS. HC Wainwright boosted their price target on shares of Astria Therapeutics from $16.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, September 17th. Evercore ISI reissued an "outperform" rating and issued a $26.00 price target on shares of Astria Therapeutics in a research note on Wednesday, October 1st. Citigroup reissued an "outperform" rating on shares of Astria Therapeutics in a research note on Wednesday, August 13th. JMP Securities boosted their price target on shares of Astria Therapeutics from $25.00 to $26.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 13th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $49.00 price target on shares of Astria Therapeutics in a research note on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $29.50.

Astria Therapeutics Stock Performance

The firm's 50 day moving average is $7.14 and its two-hundred day moving average is $5.90. The stock has a market capitalization of $665.15 million, a PE ratio of -5.84 and a beta of 0.43.

Astria Therapeutics (NASDAQ:ATXS - Get Free Report) last announced its earnings results on Tuesday, August 12th. The biotechnology company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.04. On average, analysts anticipate that Astria Therapeutics, Inc. will post -1.65 EPS for the current year.

Institutional Trading of Astria Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sio Capital Management LLC raised its stake in Astria Therapeutics by 1.0% in the second quarter. Sio Capital Management LLC now owns 318,256 shares of the biotechnology company's stock valued at $1,706,000 after buying an additional 3,151 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Astria Therapeutics by 185.8% in the second quarter. Farther Finance Advisors LLC now owns 5,471 shares of the biotechnology company's stock valued at $29,000 after buying an additional 3,557 shares in the last quarter. American Century Companies Inc. raised its stake in Astria Therapeutics by 8.3% in the second quarter. American Century Companies Inc. now owns 56,442 shares of the biotechnology company's stock valued at $303,000 after buying an additional 4,335 shares in the last quarter. Wellington Management Group LLP raised its stake in Astria Therapeutics by 3.1% in the first quarter. Wellington Management Group LLP now owns 152,611 shares of the biotechnology company's stock valued at $815,000 after buying an additional 4,562 shares in the last quarter. Finally, AlphaQuest LLC raised its stake in Astria Therapeutics by 100.9% in the first quarter. AlphaQuest LLC now owns 14,216 shares of the biotechnology company's stock valued at $76,000 after buying an additional 7,139 shares in the last quarter. 98.98% of the stock is currently owned by institutional investors and hedge funds.

About Astria Therapeutics

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.

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