BTIG Research Lowers Athira Pharma (NASDAQ:ATHA) to Neutral

BTIG Research cut shares of Athira Pharma (NASDAQ:ATHA) from a buy rating to a neutral rating in a report issued on Wednesday morning, MarketBeat Ratings reports.

A number of other brokerages also recently commented on ATHA. Rodman & Renshaw assumed coverage on shares of Athira Pharma in a research note on Monday, August 19th. They set a buy rating and a $22.00 target price for the company. JMP Securities downgraded shares of Athira Pharma from an outperform rating to a market perform rating in a research note on Wednesday.

Athira Pharma Trading Down 3.6 %

Shares of ATHA stock opened at $0.54 on Wednesday. The firm has a fifty day moving average price of $2.97 and a 200 day moving average price of $2.75. The company has a market cap of $20.75 million, a P/E ratio of -0.18 and a beta of 2.90. Athira Pharma has a 12 month low of $0.52 and a 12 month high of $4.30.

Athira Pharma (NASDAQ:ATHA) last issued its earnings results on Thursday, August 1st. The company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.05. On average, equities analysts forecast that Athira Pharma will post -2.56 EPS for the current year.

Insider Buying and Selling at Athira Pharma

In related news, Director Kelly A. Romano acquired 27,400 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was bought at an average price of $2.42 per share, for a total transaction of $66,308.00. Following the completion of the purchase, the director now directly owns 80,715 shares of the company’s stock, valued at approximately $195,330.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Kelly A. Romano acquired 27,400 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was bought at an average price of $2.42 per share, for a total transaction of $66,308.00. Following the completion of the purchase, the director now directly owns 80,715 shares of the company’s stock, valued at approximately $195,330.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kelly A. Romano acquired 15,000 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was bought at an average price of $2.26 per share, with a total value of $33,900.00. Following the purchase, the director now directly owns 53,315 shares of the company’s stock, valued at $120,491.90. The disclosure for this purchase can be found here. Insiders sold 8,829 shares of company stock worth $5,033 over the last 90 days. Corporate insiders own 19.80% of the company’s stock.

Institutional Investors Weigh In On Athira Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Perceptive Advisors LLC raised its holdings in shares of Athira Pharma by 12.6% in the fourth quarter. Perceptive Advisors LLC now owns 5,402,964 shares of the company’s stock valued at $13,129,000 after buying an additional 605,686 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Athira Pharma by 25.5% in the second quarter. Dimensional Fund Advisors LP now owns 550,353 shares of the company’s stock valued at $1,458,000 after buying an additional 111,759 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Athira Pharma by 281.5% in the first quarter. Acadian Asset Management LLC now owns 549,938 shares of the company’s stock valued at $1,505,000 after buying an additional 405,793 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Athira Pharma by 84.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 497,475 shares of the company’s stock valued at $1,363,000 after buying an additional 227,278 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Athira Pharma by 3.5% during the second quarter. Renaissance Technologies LLC now owns 271,488 shares of the company’s stock worth $719,000 after purchasing an additional 9,164 shares in the last quarter. 57.12% of the stock is owned by hedge funds and other institutional investors.

Athira Pharma Company Profile

Athira Pharma, Inc, a late clinical-stage biopharmaceutical company, focuses on developing small molecules to restore neuronal health and slow neurodegradation. Its lead product candidate is Fosgonimeton (ATH-1017), a small molecule designed to modulate the neurotrophic hepatocyte growth factor (HGF) system and its receptor, MET, for a healthy nervous system that is in LIFT-AD Phase 2/3 and ACT-AD Phase 2 clinical trials for the treatment of Alzheimer's disease, as well as is in Phase 2 clinical trials to treat Parkinson's disease dementia and Dementia with Lewy bodies.