Athira Pharma (NASDAQ:LONA) Releases Quarterly Earnings Results, Misses Estimates By $0.20 EPS

Athira Pharma (NASDAQ:LONA) posted its quarterly earnings results on Friday. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.20), Zacks reports.

Athira Pharma Stock Performance

Shares of Athira Pharma stock traded up $0.11 on Friday, reaching $7.98. The company had a trading volume of 9,289 shares, compared to its average volume of 14,814. The firm has a market cap of $74.96 million, a PE ratio of -1.53 and a beta of 2.04. Athira Pharma has a 52-week low of $3.52 and a 52-week high of $14.21. The firm’s 50 day moving average price is $8.26 and its two-hundred day moving average price is $8.19.

Analysts Set New Price Targets

LONA has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Athira Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Citizens Jmp upgraded Athira Pharma from a “market perform” rating to an “outperform” rating and set a $18.00 target price for the company in a report on Thursday, July 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Athira Pharma in a research note on Friday, August 7th. Finally, Piper Sandler assumed coverage on shares of 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 investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Athira Pharma has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Institutional Investors Weigh In On Athira Pharma

Large investors have recently modified their holdings of the company. Perceptive Advisors LLC grew its position in Athira Pharma by 244.1% during the fourth quarter. Perceptive Advisors LLC now owns 1,859,322 shares of the company’s stock worth $14,075,000 after buying an additional 1,319,026 shares during the period. ADAR1 Capital Management LLC acquired a new position in shares of Athira Pharma in the 4th quarter valued at about $2,891,000. Millennium Management LLC acquired a new stake in Athira Pharma in the 4th quarter valued at $2,456,000. Renaissance Technologies LLC increased its stake in Athira Pharma by 44.7% during the 4th quarter. Renaissance Technologies LLC now owns 75,147 shares of the company’s stock worth $569,000 after buying an additional 23,223 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Athira Pharma during the 4th quarter valued at approximately $100,000. 57.12% of the stock is owned by institutional investors and hedge funds.

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.