Athira Pharma (NASDAQ:ATHA) Downgraded by BTIG Research to “Neutral”

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

ATHA has been the topic of a number of other research reports. JMP Securities cut Athira Pharma from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Rodman & Renshaw initiated 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.

Athira Pharma Stock Down 8.4 %

ATHA opened at $2.83 on Wednesday. The stock has a market cap of $108.47 million, a P/E ratio of -0.93 and a beta of 2.90. The company has a fifty day simple moving average of $3.09 and a 200 day simple moving average of $2.80. Athira Pharma has a 12 month low of $1.33 and a 12 month high of $4.30.

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

Insider Transactions at Athira Pharma

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ATHA. Perceptive Advisors LLC boosted its holdings in shares of Athira Pharma by 12.6% in the 4th quarter. Perceptive Advisors LLC now owns 5,402,964 shares of the company’s stock valued at $13,129,000 after purchasing an additional 605,686 shares in the last quarter. Acadian Asset Management LLC grew its position in 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 acquiring an additional 405,793 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in 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 acquiring an additional 227,278 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Athira Pharma by 25.5% during the second quarter. Dimensional Fund Advisors LP now owns 550,353 shares of the company’s stock worth $1,458,000 after acquiring an additional 111,759 shares in the last quarter. Finally, Invst LLC bought a new position in shares of Athira Pharma in the second quarter worth about $68,000. 57.12% of the stock is 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.