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

Athira Pharma (NASDAQ:ATHA) was downgraded by stock analysts at BTIG Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports.

A number of other equities research analysts also recently weighed in on ATHA. JMP Securities downgraded shares of Athira Pharma from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Rodman & Renshaw started coverage on shares of Athira Pharma in a research note on Monday, August 19th. They issued a “buy” rating and a $22.00 price target on the stock.

Athira Pharma Stock Down 8.0 %

Shares of Athira Pharma stock opened at $0.56 on Wednesday. The company has a market capitalization of $21.54 million, a price-to-earnings ratio of -0.18 and a beta of 2.90. Athira Pharma has a 12-month low of $0.54 and a 12-month high of $4.30. The firm’s 50-day moving average price is $3.01 and its two-hundred day moving average price is $2.77.

Athira Pharma (NASDAQ:ATHA) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.05. On average, sell-side analysts expect that Athira Pharma will post -2.56 earnings per share for the current year.

Insider Activity

In other Athira Pharma news, Director Kelly A. Romano acquired 27,400 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was acquired at an average price of $2.42 per share, for a total transaction of $66,308.00. Following the acquisition, the director now directly owns 80,715 shares in the company, valued at $195,330.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Athira Pharma news, Director Kelly A. Romano acquired 27,400 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was acquired at an average price of $2.42 per share, for a total transaction of $66,308.00. Following the acquisition, the director now directly owns 80,715 shares in the company, valued at $195,330.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kelly A. Romano acquired 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was acquired at an average price of $2.26 per share, with a total value of $33,900.00. Following the acquisition, the director now owns 53,315 shares in the company, valued at $120,491.90. The disclosure for this purchase can be found here. In the last three months, insiders have sold 8,829 shares of company stock worth $5,033. Corporate insiders own 19.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ATHA. Private Advisor Group LLC bought a new position in Athira Pharma during the 4th quarter worth approximately $32,000. Forefront Analytics LLC raised its holdings in Athira Pharma by 43.0% during the 4th quarter. Forefront Analytics LLC now owns 29,765 shares of the company’s stock worth $72,000 after purchasing an additional 8,955 shares during the last quarter. Perceptive Advisors LLC raised its holdings in Athira Pharma by 12.6% during the 4th quarter. Perceptive Advisors LLC now owns 5,402,964 shares of the company’s stock worth $13,129,000 after purchasing an additional 605,686 shares during the last quarter. Mirador Capital Partners LP bought a new position in Athira Pharma during the 1st quarter worth approximately $57,000. Finally, Acadian Asset Management LLC raised its holdings in Athira Pharma by 281.5% during the 1st quarter. Acadian Asset Management LLC now owns 549,938 shares of the company’s stock worth $1,505,000 after purchasing an additional 405,793 shares during the last quarter. Institutional investors own 57.12% of the company’s stock.

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.