Athira Pharma (NASDAQ:ATHA) Cut to Neutral at Rodman & Renshaw

Rodman & Renshaw cut shares of Athira Pharma (NASDAQ:ATHA) from a buy rating to a neutral rating in a research note published on Wednesday, MarketBeat.com reports.

A number of other equities research analysts also recently weighed in on ATHA. BTIG Research downgraded Athira Pharma from a buy rating to a neutral rating in a report on Wednesday. JMP Securities downgraded Athira Pharma from an outperform rating to a market perform rating in a report on Wednesday.

Athira Pharma Stock Performance

Shares of ATHA stock opened at $0.54 on Wednesday. The company has a market cap of $20.75 million, a P/E ratio of -0.18 and a beta of 2.90. The stock has a 50 day simple moving average of $2.97 and a two-hundred day simple moving average of $2.75. Athira Pharma has a fifty-two week low of $0.52 and a fifty-two week high of $4.30.

Athira Pharma (NASDAQ:ATHA) last issued its earnings results on Thursday, August 1st. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.05. On average, research analysts predict that Athira Pharma will post -2.56 earnings per share for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ATHA. Private Advisor Group LLC purchased a new position in Athira Pharma in the fourth quarter worth $32,000. Rothschild Investment LLC purchased a new position in Athira Pharma in the second quarter worth $34,000. Mirador Capital Partners LP purchased a new position in Athira Pharma in the first quarter worth $57,000. XTX Topco Ltd purchased a new position in Athira Pharma in the second quarter worth $60,000. Finally, Invst LLC purchased a new position in shares of Athira Pharma during the 2nd quarter valued at $68,000. Hedge funds and other institutional investors own 57.12% of the company’s stock.

About Athira Pharma

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.