Astria Therapeutics (NASDAQ:ATXS) Trading Down 2.9% on Analyst Downgrade

Astria Therapeutics, Inc. (NASDAQ:ATXS)’s stock price was down 2.9% during mid-day trading on Tuesday after HC Wainwright lowered their price target on the stock from $18.00 to $16.00. HC Wainwright currently has a buy rating on the stock. Astria Therapeutics traded as low as $9.51 and last traded at $9.52. Approximately 312,375 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 972,972 shares. The stock had previously closed at $9.80.

A number of other equities research analysts have also issued reports on the company. Wedbush reissued an “outperform” rating and set a $17.00 price target on shares of Astria Therapeutics in a research note on Tuesday, March 26th. Jefferies Financial Group raised their price target on Astria Therapeutics from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, March 25th.

Insiders Place Their Bets

In other Astria Therapeutics news, insider Christopher Morabito sold 9,200 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $11.15, for a total transaction of $102,580.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Astria Therapeutics news, insider Christopher Morabito sold 9,200 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $11.15, for a total transaction of $102,580.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Perceptive Advisors Llc purchased 2,481,350 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was bought at an average price of $12.09 per share, for a total transaction of $29,999,521.50. Following the completion of the acquisition, the director now directly owns 4,873,721 shares in the company, valued at approximately $58,923,286.89. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Affinity Asset Advisors LLC grew its stake in Astria Therapeutics by 53.7% during the 3rd quarter. Affinity Asset Advisors LLC now owns 1,000,300 shares of the biotechnology company’s stock worth $7,462,000 after buying an additional 349,425 shares during the last quarter. Jump Financial LLC purchased a new position in Astria Therapeutics during the 3rd quarter worth $111,000. Perceptive Advisors LLC grew its stake in Astria Therapeutics by 82.9% during the 4th quarter. Perceptive Advisors LLC now owns 4,004,070 shares of the biotechnology company’s stock worth $30,751,000 after buying an additional 1,814,608 shares during the last quarter. ADAR1 Capital Management LLC purchased a new position in Astria Therapeutics during the 4th quarter worth $1,469,000. Finally, Armistice Capital LLC purchased a new position in Astria Therapeutics during the 4th quarter worth $12,119,000. 98.98% of the stock is currently owned by hedge funds and other institutional investors.

Astria Therapeutics Stock Performance

The company has a 50 day moving average of $13.40 and a two-hundred day moving average of $9.25. The stock has a market capitalization of $536.92 million, a PE ratio of -4.19 and a beta of 0.69.

Astria Therapeutics (NASDAQ:ATXS) last issued its quarterly earnings results on Monday, March 4th. The biotechnology company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.08). As a group, research analysts predict that Astria Therapeutics, Inc. will post -1.55 EPS for the current fiscal year.

About Astria Therapeutics

Astria Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for allergic and immunological diseases in the United States. Its lead product candidate is STAR-0215, a monoclonal antibody inhibitor of plasma kallikrein, which is in Phase 1b/2 clinical trials for the treatment of hereditary angioedema.