Athira Pharma (NASDAQ:ATHA) Downgraded by Mizuho

Athira Pharma (NASDAQ:ATHA) was downgraded by stock analysts at Mizuho from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a $0.50 price target on the stock, down from their previous price target of $5.00. Mizuho’s price objective indicates a potential upside of 7.99% from the company’s current price.

Several other brokerages also recently issued reports on ATHA. Rodman & Renshaw downgraded Athira Pharma from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 4th. BTIG Research downgraded Athira Pharma from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 4th. Finally, JMP Securities downgraded Athira Pharma from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 4th.

Athira Pharma Stock Performance

ATHA opened at $0.46 on Thursday. Athira Pharma has a twelve month low of $0.46 and a twelve month high of $4.30. The business has a 50 day moving average price of $2.61 and a 200 day moving average price of $2.55. The firm has a market cap of $17.75 million, a P/E ratio of -0.15 and a beta of 2.90.

Athira Pharma (NASDAQ:ATHA) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.05. As a group, analysts anticipate that Athira Pharma will post -2.56 earnings per share for the current fiscal year.

Insider Activity at Athira Pharma

In other news, Director Kelly A. Romano purchased 27,400 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were purchased at an average cost of $2.42 per share, for a total transaction of $66,308.00. Following the completion of the purchase, the director now directly owns 80,715 shares of the company’s stock, valued at approximately $195,330.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Kelly A. Romano bought 15,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was acquired at an average cost of $2.26 per share, for a total transaction of $33,900.00. Following the completion of the purchase, the director now owns 53,315 shares of the company’s stock, valued at approximately $120,491.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kelly A. Romano purchased 27,400 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were acquired at an average price of $2.42 per share, for a total transaction of $66,308.00. Following the purchase, 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. Over the last 90 days, insiders sold 8,829 shares of company stock worth $5,033. Company insiders own 19.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ATHA. Perceptive Advisors LLC grew its stake in shares of Athira Pharma by 12.6% in the 4th quarter. Perceptive Advisors LLC now owns 5,402,964 shares of the company’s stock valued at $13,129,000 after purchasing an additional 605,686 shares during the period. Acadian Asset Management LLC lifted its holdings 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 period. Jacobs Levy Equity Management Inc. boosted its stake in shares of Athira Pharma by 84.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 497,475 shares of the company’s stock valued at $1,363,000 after purchasing an additional 227,278 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Athira Pharma by 25.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 550,353 shares of the company’s stock valued at $1,458,000 after purchasing an additional 111,759 shares in the last quarter. Finally, Invst LLC bought a new stake in shares of Athira Pharma in the 2nd quarter worth about $68,000. Institutional investors and hedge funds own 57.12% of the company’s stock.

Athira Pharma Company Profile

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.