Athira Pharma (NASDAQ:LONA) Trading Up 13% - Should You Buy?

Key Points

• Athira Pharma shares jumped 13% on Monday, trading as high as $9.39 before ending around $9.80. Volume was light at about 4,884 shares, well below its average daily volume.
• Analyst sentiment is mixed: Weiss Ratings reiterated a sell rating, Wall Street Zen upgraded the stock to hold, and Piper Sandler started coverage with an overweight rating and a $20 price target. The overall consensus rating is Hold with a $15 target.
• The company remains unprofitable and small-cap, with a market value of about $91.65 million and a recent quarterly EPS of -$1.73. Athira is a clinical-stage biopharma company focused on therapies for neurodegenerative diseases, led by its fosgonimeton pipeline.

Athira Pharma, Inc. (NASDAQ:LONA - Get Free Report) shares were up 13% during trading on Monday . The company traded as high as $9.39 and last traded at $9.7950. Approximately 4,884 shares were traded during mid-day trading, a decline of 77% from the average session volume of 21,182 shares. The stock had previously closed at $8.67.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Athira Pharma in a research report on Monday, May 11th. Wall Street Zen raised Athira Pharma from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Piper Sandler initiated coverage on shares of Athira Pharma in a research note on Wednesday, May 27th. They issued an "overweight" rating and a $20.00 price target on the stock. Three 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 MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $15.00.

Athira Pharma Price Performance

The stock has a 50 day simple moving average of $9.19. The company has a market cap of $91.65 million, a PE ratio of -1.87 and a beta of 2.01.

Athira Pharma (NASDAQ:LONA - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($1.73) earnings per share for the quarter. On average, equities research analysts anticipate that Athira Pharma, Inc. will post -3.12 EPS for the current fiscal year.

Institutional Trading of Athira Pharma

Several institutional investors and hedge funds have recently made changes to their positions in the company. Focus Partners Wealth purchased a new position in Athira Pharma during the 3rd quarter worth approximately $35,000. Jane Street Group LLC acquired a new position in Athira Pharma during the fourth quarter worth approximately $100,000. Renaissance Technologies LLC lifted its stake in 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 buying an additional 23,223 shares during the last quarter. Seven Fleet Capital Management LP purchased a new stake in Athira Pharma in the fourth quarter valued at approximately $969,000. Finally, Millennium Management LLC acquired a new stake in shares of Athira Pharma in the fourth quarter valued at approximately $2,456,000. 57.12% of the stock is 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.

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