Athira Pharma (NASDAQ:LONA) Announces Quarterly Earnings Results

Key Points

• Athira Pharma beat quarterly earnings expectations, reporting a loss of $0.80 per share versus the consensus estimate of a $1.90 loss.
• Shares rose 1.4% to $7.98, while analysts maintained a generally positive outlook: four rated the stock a Buy, with a consensus rating of “Moderate Buy” and a $16 price target.
• Institutional investors own 57.12% of the company, with several hedge funds initiating or increasing positions during recent quarters.

Athira Pharma (NASDAQ:LONA - Get Free Report) announced its quarterly earnings data on Friday. The company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($1.90) by $1.10, Zacks reports.

Athira Pharma Trading Up 1.4%

Shares of LONA traded up $0.11 on Friday, reaching $7.98. The company's stock had a trading volume of 9,289 shares, compared to its average volume of 49,715. Athira Pharma has a twelve month low of $3.52 and a twelve month high of $14.21. The stock has a market capitalization of $74.93 million, a PE ratio of -1.53 and a beta of 2.04. The firm has a fifty day moving average of $8.27 and a 200-day moving average of $8.17.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LONA. Weiss Ratings restated a "sell (d-)" rating on shares of Athira Pharma in a research note on Friday, August 7th. Citizens Jmp raised Athira Pharma from a "market perform" rating to an "outperform" rating and set a $18.00 price target on the stock in a research note on Thursday, July 30th. Wall Street Zen upgraded Athira Pharma from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Piper Sandler assumed coverage on Athira Pharma in a research note on Wednesday, May 27th. They issued an "overweight" rating and a $20.00 price objective for the company. Four 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 company currently has an average rating of "Moderate Buy" and a consensus target price of $16.00.

Institutional Trading of Athira Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth purchased a new stake in Athira Pharma in the 3rd quarter valued at $35,000. Jane Street Group LLC bought a new stake in shares of Athira Pharma in the 4th quarter worth $100,000. Renaissance Technologies LLC raised its holdings in shares of Athira Pharma by 44.7% in the fourth quarter. Renaissance Technologies LLC now owns 75,147 shares of the company's stock valued at $569,000 after purchasing an additional 23,223 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Athira Pharma in the fourth quarter valued at about $2,456,000. Finally, ADAR1 Capital Management LLC bought a new position in shares of Athira Pharma during the fourth quarter valued at about $2,891,000. 57.12% of the stock is owned by institutional investors.

Athira Pharma Company Profile

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.

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