Athira Pharma (NASDAQ:LONA) Releases Quarterly Earnings Results

Athira Pharma (NASDAQ:LONA) announced its earnings results on Friday. The company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.90) by $1.10, Zacks reports.

Athira Pharma Trading Up 1.4%

Shares of LONA stock traded up $0.11 during trading hours on Friday, hitting $7.98. 9,289 shares of the company were exchanged, compared to its average volume of 49,715. The stock has a market capitalization of $74.93 million, a price-to-earnings ratio of -1.53 and a beta of 2.04. The firm has a fifty day simple moving average of $8.27 and a 200 day simple moving average of $8.17. Athira Pharma has a 52-week low of $3.52 and a 52-week high of $14.21.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Athira Pharma

Several institutional investors and hedge funds have recently bought and sold shares of LONA. Focus Partners Wealth purchased a new stake in Athira Pharma in the third quarter worth $35,000. Jane Street Group LLC purchased a new position in shares of Athira Pharma during the 4th quarter valued at $100,000. Renaissance Technologies LLC lifted its position in shares of Athira Pharma by 44.7% during the 4th quarter. Renaissance Technologies LLC now owns 75,147 shares of the company’s stock valued at $569,000 after buying an additional 23,223 shares during the last quarter. Millennium Management LLC bought a new position in shares of Athira Pharma during the 4th quarter worth $2,456,000. Finally, ADAR1 Capital Management LLC bought a new position in shares of Athira Pharma during the 4th quarter worth $2,891,000. 57.12% of the stock is owned by institutional investors.

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.