Athira Pharma (NASDAQ:ATHA) Downgraded to Neutral at Rodman & Renshaw

Rodman & Renshaw downgraded shares of Athira Pharma (NASDAQ:ATHA) from a buy rating to a neutral rating in a report issued on Wednesday, Marketbeat Ratings reports.

Other analysts have also recently issued reports about the stock. JMP Securities cut shares of Athira Pharma from an outperform rating to a market perform rating in a research report on Wednesday. BTIG Research downgraded Athira Pharma from a buy rating to a neutral rating in a research report on Wednesday.

Athira Pharma Stock Performance

Shares of NASDAQ:ATHA opened at $0.61 on Wednesday. The stock has a 50-day simple moving average of $3.05 and a 200-day simple moving average of $2.78. The stock has a market capitalization of $23.40 million, a P/E ratio of -0.20 and a beta of 2.90. Athira Pharma has a 1 year low of $0.60 and a 1 year high of $4.30.

Athira Pharma (NASDAQ:ATHA) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.05. Analysts predict that Athira Pharma will post -2.56 earnings per share for the current year.

Insider Activity

In other news, Director Kelly A. Romano acquired 15,000 shares of the business’s stock in a transaction on Friday, June 21st. The shares were purchased at an average price of $2.26 per share, for a total transaction of $33,900.00. Following the acquisition, the director now directly owns 53,315 shares of the company’s stock, valued at approximately $120,491.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Athira Pharma news, Director Kelly A. Romano acquired 15,000 shares of the stock in a transaction on Friday, June 21st. The stock was purchased at an average price of $2.26 per share, for a total transaction of $33,900.00. Following the purchase, the director now directly owns 53,315 shares in the company, valued at $120,491.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kelly A. Romano bought 27,400 shares of the business’s stock in a transaction on Monday, June 24th. The stock was acquired at an average cost of $2.42 per share, for a total transaction of $66,308.00. Following the completion of the transaction, the director now owns 80,715 shares in the company, valued at $195,330.30. The disclosure for this purchase can be found here. Insiders own 19.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Rothschild Investment LLC acquired a new stake in shares of Athira Pharma in the 2nd quarter valued at about $34,000. Private Advisor Group LLC acquired a new position in Athira Pharma in the fourth quarter worth about $32,000. Mirador Capital Partners LP bought a new stake in Athira Pharma in the first quarter valued at about $57,000. XTX Topco Ltd acquired a new stake in Athira Pharma during the second quarter valued at approximately $60,000. Finally, Invst LLC bought a new position in Athira Pharma during the 2nd quarter worth approximately $68,000. 57.12% of the stock is currently owned by institutional investors.

About Athira Pharma

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.