Athira Pharma (NASDAQ:LONA) Stock Price Down 34.9% – Should You Sell?

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

Analyst Ratings Changes

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

Athira Pharma Trading Down 34.9%

The stock has a market cap of $30.52 million, a price-to-earnings ratio of -0.77 and a beta of 2.05. The firm’s 50-day moving average is $7.31 and its two-hundred day moving average is $8.61.

Athira Pharma (NASDAQ:LONA) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.20). On average, analysts predict that Athira Pharma, Inc. will post -2.67 earnings per share for the current year.

Institutional Trading of Athira Pharma

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

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.