Athira Pharma (NASDAQ:LONA) Stock Falls 34.9% – What’s Next?

Athira Pharma, Inc. (NASDAQ:LONA)’s share price dropped 34.9% on Friday. The stock traded as low as $3.12 and last traded at $3.25. 343,726 shares were traded during trading, an increase of 553% from the average session volume of 52,657 shares. The stock had previously closed at $4.99.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LONA. Weiss Ratings reissued a “sell (d-)” rating on shares of Athira Pharma in a report on Friday, August 7th. Mizuho decreased their target price on Athira Pharma from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday, August 19th. Finally, Citizens Jmp dropped their target price on Athira Pharma from $18.00 to $17.00 and set a “market outperform” rating on the stock in a research report on Monday, August 17th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Athira Pharma presently has a consensus rating of “Moderate Buy” and an average price target of $17.33.

Athira Pharma Stock Down 34.9%

The company has a market capitalization of $30.52 million, a price-to-earnings ratio of -0.77 and a beta of 2.05. The business’s 50-day moving average is $7.31 and its 200-day moving average is $8.61.

Athira Pharma (NASDAQ:LONA) last announced its quarterly 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). As a group, analysts expect that Athira Pharma, Inc. will post -2.67 EPS for the current year.

Institutional Trading of Athira Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of LONA. Commodore Capital LP acquired a new position in Athira Pharma in the fourth quarter valued at approximately $3,515,000. Seven Fleet Capital Management LP acquired a new stake in shares of Athira Pharma during the 4th quarter worth approximately $969,000. Finally, Spruce Street Capital LP purchased a new position in shares of Athira Pharma during the 4th quarter valued at approximately $2,980,000. 57.12% of the stock is owned by institutional investors and hedge funds.

About Athira Pharma

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.