Athira Pharma, Inc. (NASDAQ:LONA) Stock Short Interest Drops 41.3%

Athira Pharma, Inc. (NASDAQ:LONA) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 23,651 shares, a drop of 41.3% from the August 31st total of 40,293 shares. Based on an average daily volume of 64,689 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.3% of the shares of the company are short sold.

Institutional Trading of Athira Pharma

Large investors have recently modified their holdings of the company. Seven Fleet Capital Management LP acquired a new position in Athira Pharma during the 4th quarter valued at about $969,000. Commodore Capital LP acquired a new stake in shares of Athira Pharma in the fourth quarter valued at approximately $3,515,000. Finally, Spruce Street Capital LP acquired a new stake in shares of Athira Pharma in the fourth quarter valued at approximately $2,980,000. Institutional investors and hedge funds own 57.12% of the company’s stock.

Athira Pharma Price Performance

NASDAQ:LONA traded up $0.81 during midday trading on Thursday, reaching $4.38. 6,210,955 shares of the company traded hands, compared to its average volume of 93,269. The firm has a market capitalization of $41.13 million, a price-to-earnings ratio of -1.04 and a beta of 2.05. The company has a fifty day moving average price of $7.05 and a 200 day moving average price of $8.45. Athira Pharma has a twelve month low of $2.21 and a twelve month high of $14.21.

Athira Pharma (NASDAQ:LONA) last issued its earnings results on Friday, August 14th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.20). On average, equities research analysts forecast that Athira Pharma will post -2.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Citizens Jmp lowered their target price on shares of Athira Pharma from $18.00 to $17.00 and set a “market outperform” rating for the company in a research note on Monday, August 17th. Mizuho reduced their price target on shares of Athira Pharma from $16.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Athira Pharma in a research report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.33.

Athira Pharma Company Profile

Athira Pharma, Inc is a biotechnology company focused on developing regenerative medicines for diseases involving neurodegeneration and neurological decline. The company’s research is based on the hepatocyte growth factor (HGF) pathway, which it believes may support neuronal health, repair, and regeneration.

Athira’s lead investigational product is fosgonimeton (also known as ATH-1017), a small-molecule therapy designed to activate the HGF/MET system. The treatment has been studied for Alzheimer’s disease and other neurological conditions, although it remains investigational and has not been approved for commercial use.

Athira was founded in 2011 and is based in the United States.