Athira Pharma (NASDAQ:LONA) Trading Up 2.2% - Should You Buy?

Key Points

• Athira Pharma shares rose 2.2% on Friday, trading as high as $9.70 before ending near $9.60, with volume below the average session level.
• Analyst sentiment is mixed: Weiss Ratings kept a sell rating, Wall Street Zen upgraded the stock to hold, and Piper Sandler initiated coverage with an overweight rating and a $20 price target. Overall, the stock has a consensus Hold rating and an average target of $15.00.
• The biotech remains a small, unprofitable clinical-stage company, reporting a $1.73 EPS loss last quarter and expected to lose $3.12 per share for the full year. Institutional ownership is significant, with hedge funds and other investors holding 57.12% of the shares.

Athira Pharma, Inc. (NASDAQ:LONA - Get Free Report) traded up 2.2% during trading on Friday . The company traded as high as $9.70 and last traded at $9.60. 39,000 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 53,808 shares. The stock had previously closed at $9.39.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on LONA shares. Weiss Ratings reiterated 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 research note on Saturday, May 16th. Finally, Piper Sandler assumed coverage on Athira Pharma in a report on Wednesday, May 27th. They set an "overweight" rating and a $20.00 target price on the stock. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $15.00.

Athira Pharma Price Performance

The stock's fifty day simple moving average is $9.19. The firm has a market cap of $90.14 million, a P/E ratio of -1.84 and a beta of 2.01.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Focus Partners Wealth purchased a new stake in Athira Pharma in the third quarter valued at approximately $35,000. Renaissance Technologies LLC boosted its holdings in shares of 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 purchasing an additional 23,223 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Athira Pharma during the 4th quarter valued at $100,000. Spruce Street Capital LP acquired a new stake in shares of Athira Pharma during the 4th quarter worth $2,980,000. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Athira Pharma during the 4th quarter worth $2,891,000. 57.12% of the stock is currently owned by hedge funds and other 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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