Astria Therapeutics (NASDAQ:ATXS) Shares Down 2.9% Following Analyst Downgrade

Astria Therapeutics, Inc. (NASDAQ:ATXS) was down 2.9% during 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.

ATXS has been the topic of a number of other reports. Jefferies Financial Group lifted their price target on Astria Therapeutics from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, March 25th. 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.

Insider Buying and Selling

In related news, insider Christopher Morabito sold 9,200 shares of Astria Therapeutics stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $11.15, for a total value of $102,580.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Astria Therapeutics news, Director Perceptive Advisors Llc bought 2,481,350 shares of the stock in a transaction on Thursday, February 1st. The stock was acquired at an average cost of $12.09 per share, for a total transaction of $29,999,521.50. Following the completion of the acquisition, the director now owns 4,873,721 shares in the company, valued at approximately $58,923,286.89. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Morabito sold 9,200 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $11.15, for a total value of $102,580.00. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Astria Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Affinity Asset Advisors LLC boosted its position in Astria Therapeutics by 53.7% in the third quarter. Affinity Asset Advisors LLC now owns 1,000,300 shares of the biotechnology company’s stock worth $7,462,000 after purchasing an additional 349,425 shares during the last quarter. Jump Financial LLC purchased a new position in Astria Therapeutics in the third quarter worth $111,000. Perceptive Advisors LLC boosted its position in Astria Therapeutics by 82.9% in the fourth quarter. Perceptive Advisors LLC now owns 4,004,070 shares of the biotechnology company’s stock worth $30,751,000 after purchasing an additional 1,814,608 shares during the last quarter. ADAR1 Capital Management LLC purchased a new position in Astria Therapeutics in the fourth quarter worth $1,469,000. Finally, Armistice Capital LLC purchased a new position in Astria Therapeutics in the fourth quarter worth $12,119,000. Institutional investors own 98.98% of the company’s stock.

Astria Therapeutics Trading Down 1.6 %

The business has a 50-day moving average price of $13.31 and a 200 day moving average price of $9.27. The stock has a market cap of $529.24 million, a PE ratio of -4.12 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). On average, equities analysts predict that Astria Therapeutics, Inc. will post -1.55 earnings per share for the current year.

Astria Therapeutics Company Profile

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.