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

Athira Pharma (NASDAQ:LONA) issued its earnings results on Friday. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.20), Zacks reports.

Athira Pharma Price Performance

NASDAQ LONA traded up $0.11 during mid-day trading on Friday, reaching $7.98. The stock had a trading volume of 9,289 shares, compared to its average volume of 14,814. Athira Pharma has a 1 year low of $3.52 and a 1 year high of $14.21. The stock has a market cap of $74.93 million, a PE ratio of -1.53 and a beta of 2.04. The company has a fifty day moving average price of $8.26 and a 200 day moving average price of $8.22.

Hedge Funds Weigh In On Athira Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Perceptive Advisors LLC boosted its stake in shares of Athira Pharma by 244.1% during the 4th quarter. Perceptive Advisors LLC now owns 1,859,322 shares of the company’s stock worth $14,075,000 after acquiring an additional 1,319,026 shares during the last quarter. ADAR1 Capital Management LLC purchased a new stake in shares of Athira Pharma in the 4th quarter worth $2,891,000. Millennium Management LLC purchased a new stake in shares of Athira Pharma in the 4th quarter worth $2,456,000. Renaissance Technologies LLC increased its stake in shares of Athira Pharma by 44.7% in the 4th quarter. Renaissance Technologies LLC now owns 75,147 shares of the company’s stock worth $569,000 after purchasing an additional 23,223 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Athira Pharma in the 4th quarter worth $100,000. Institutional investors own 57.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on LONA shares. Piper Sandler assumed coverage on shares of Athira Pharma in a report on Wednesday, May 27th. They issued an “overweight” rating and a $20.00 price objective for the company. Citizens Jmp upgraded shares of Athira Pharma from a “market perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a research report on Thursday, July 30th. Wall Street Zen upgraded shares of Athira Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Athira Pharma in a research note on Friday, August 7th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

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.