Athira Pharma (NASDAQ:LONA) Trading Up 13% – Should You Buy?

Athira Pharma, Inc. (NASDAQ:LONA)’s share price was up 13% during trading on Monday . The company traded as high as $9.39 and last traded at $9.7950. 4,884 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 21,182 shares. The stock had previously closed at $8.67.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Athira Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Piper Sandler started coverage on shares of Athira Pharma in a research report on Wednesday, May 27th. They set an “overweight” rating and a $20.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Athira Pharma in a research note on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Athira Pharma presently has an average rating of “Hold” and an average target price of $15.00.

Athira Pharma Price Performance

The business has a 50-day moving average of $9.19. The company has a market capitalization of $91.65 million, a P/E ratio of -1.87 and a beta of 2.01.

Athira Pharma (NASDAQ:LONA) last announced its earnings results on Thursday, May 7th. The company reported ($1.73) earnings per share for the quarter. As a group, research analysts expect that Athira Pharma, Inc. will post -3.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Athira Pharma

Hedge funds have recently modified their holdings of the stock. Commodore Capital LP purchased a new position in Athira Pharma in the 4th quarter valued at $3,515,000. Seven Fleet Capital Management LP purchased a new position in Athira Pharma during the 4th quarter worth $969,000. Spruce Street Capital LP purchased a new position in Athira Pharma during the 4th quarter worth $2,980,000. Perceptive Advisors LLC raised its position in 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 buying an additional 1,319,026 shares during the last quarter. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Athira Pharma in the 4th quarter worth $2,891,000. 57.12% of the stock is owned by institutional investors and hedge funds.

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.