JMP Securities Downgrades Athira Pharma (NASDAQ:ATHA) to Market Perform

JMP Securities downgraded shares of Athira Pharma (NASDAQ:ATHA) from an outperform rating to a market perform rating in a research note issued to investors on Wednesday morning, MarketBeat reports.

Separately, Rodman & Renshaw initiated coverage on shares of Athira Pharma in a report on Monday, August 19th. They issued a buy rating and a $22.00 price target for the company.

Athira Pharma Stock Down 3.6 %

NASDAQ ATHA opened at $0.54 on Wednesday. The stock has a market capitalization of $20.75 million, a P/E ratio of -0.18 and a beta of 2.90. Athira Pharma has a 52-week low of $0.52 and a 52-week high of $4.30. The firm has a 50-day moving average price of $2.97 and a 200 day moving average price of $2.74.

Athira Pharma (NASDAQ:ATHA) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.05. On average, equities research analysts expect that Athira Pharma will post -2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Kelly A. Romano acquired 27,400 shares of Athira Pharma stock in a transaction that occurred on Monday, June 24th. The stock was purchased at an average cost of $2.42 per share, with a total value of $66,308.00. Following the completion of the acquisition, the director now owns 80,715 shares in the company, valued at approximately $195,330.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Athira Pharma news, Director Kelly A. Romano bought 15,000 shares of the business’s stock in a transaction on Friday, June 21st. The stock was bought at an average price of $2.26 per share, for a total transaction of $33,900.00. Following the completion of the transaction, the director now owns 53,315 shares in the company, valued at approximately $120,491.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kelly A. Romano purchased 27,400 shares of Athira Pharma stock in a transaction on Monday, June 24th. The stock was acquired at an average cost of $2.42 per share, for a total transaction of $66,308.00. Following the acquisition, the director now directly owns 80,715 shares of the company’s stock, valued at $195,330.30. The disclosure for this purchase can be found here. Insiders have sold a total of 8,829 shares of company stock worth $5,033 in the last quarter. Company insiders own 19.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. grew its holdings in Athira Pharma by 84.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 497,475 shares of the company’s stock valued at $1,363,000 after buying an additional 227,278 shares during the last quarter. Perceptive Advisors LLC lifted its position in shares of Athira Pharma by 12.6% in the fourth quarter. Perceptive Advisors LLC now owns 5,402,964 shares of the company’s stock valued at $13,129,000 after acquiring an additional 605,686 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Athira Pharma by 281.5% during the first quarter. Acadian Asset Management LLC now owns 549,938 shares of the company’s stock valued at $1,505,000 after acquiring an additional 405,793 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Athira Pharma during the 4th quarter worth about $32,000. Finally, Mirador Capital Partners LP acquired a new position in Athira Pharma in the 1st quarter valued at about $57,000. 57.12% of the stock is owned by hedge funds and other institutional investors.

About Athira Pharma

Athira Pharma, Inc, a late clinical-stage biopharmaceutical company, focuses on developing small molecules to restore neuronal health and slow neurodegradation. Its lead product candidate is Fosgonimeton (ATH-1017), a small molecule designed to modulate the neurotrophic hepatocyte growth factor (HGF) system and its receptor, MET, for a healthy nervous system that is in LIFT-AD Phase 2/3 and ACT-AD Phase 2 clinical trials for the treatment of Alzheimer's disease, as well as is in Phase 2 clinical trials to treat Parkinson's disease dementia and Dementia with Lewy bodies.