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

Astria Therapeutics, Inc. (NASDAQ:ATXS)’s stock price 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 changed 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.

Several other equities research analysts have also recently commented on the company. Jefferies Financial Group increased their price target on Astria Therapeutics from $22.00 to $27.00 and gave the company a “buy” rating in a report on Monday, March 25th. Wedbush reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Astria Therapeutics in a report on Tuesday, March 26th.

Insider Buying and Selling

In other Astria Therapeutics news, Director Perceptive Advisors Llc acquired 2,481,350 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average cost of $12.09 per share, for a total transaction of $29,999,521.50. Following the completion of the transaction, the director now owns 4,873,721 shares of the company’s stock, valued at approximately $58,923,286.89. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Perceptive Advisors Llc purchased 2,481,350 shares of the stock in a transaction dated 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 transaction, the director now directly owns 4,873,721 shares in the company, valued at approximately $58,923,286.89. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christopher Morabito sold 9,200 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was 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 currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Perceptive Advisors LLC raised its stake 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 valued at $30,751,000 after buying an additional 1,814,608 shares in the last quarter. ADAR1 Capital Management LLC acquired a new stake in shares of Astria Therapeutics during the fourth quarter worth about $1,469,000. Armistice Capital LLC acquired a new stake in shares of Astria Therapeutics during the fourth quarter worth about $12,119,000. Affinity Asset Advisors LLC increased its position in shares of Astria Therapeutics by 46.6% during the fourth quarter. Affinity Asset Advisors LLC now owns 1,466,465 shares of the biotechnology company’s stock worth $11,262,000 after purchasing an additional 466,165 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Astria Therapeutics during the fourth quarter worth about $409,000. 98.98% of the stock is currently owned by hedge funds and other institutional investors.

Astria Therapeutics Price Performance

The stock has a 50-day moving average price of $13.31 and a 200 day moving average price of $9.27. The firm has a market cap of $494.13 million, a price-to-earnings ratio of -3.85 and a beta of 0.69.

Astria Therapeutics (NASDAQ:ATXS) last announced its earnings results on Monday, March 4th. The biotechnology company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.08). As a group, equities research analysts predict that Astria Therapeutics, Inc. will post -1.55 earnings per share for the current year.

About Astria Therapeutics

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.