Athira Pharma, Inc. (NASDAQ:LONA) Sees Significant Decrease in Short Interest

Athira Pharma, Inc. (NASDAQ:LONA) saw a large decline in short interest in September. As of September 15th, there was short interest totaling 23,651 shares, a decline of 41.3% from the August 31st total of 40,293 shares. Based on an average trading volume of 64,689 shares, the short-interest ratio is currently 0.4 days. Approximately 0.3% of the company’s stock are sold short.

Hedge Funds Weigh In On Athira Pharma

Several large investors have recently bought and sold shares of LONA. Commodore Capital LP acquired a new stake in shares of Athira Pharma during the fourth quarter worth about $3,515,000. Seven Fleet Capital Management LP acquired a new stake in shares of Athira Pharma in the 4th quarter valued at about $969,000. Finally, Spruce Street Capital LP acquired a new stake in shares of Athira Pharma in the 4th quarter valued at about $2,980,000. Institutional investors and hedge funds own 57.12% of the company’s stock.

Athira Pharma Stock Up 1.1%

LONA traded up $0.04 on Wednesday, reaching $3.55. The company’s stock had a trading volume of 19,529 shares, compared to its average volume of 60,861. The company has a market capitalization of $33.35 million, a price-to-earnings ratio of -0.84 and a beta of 2.05. Athira Pharma has a fifty-two week low of $2.21 and a fifty-two week high of $14.21. The stock has a 50 day moving average of $7.13 and a two-hundred day moving average of $8.49.

Athira Pharma (NASDAQ:LONA) last issued its quarterly earnings data 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 anticipate that Athira Pharma will post -2.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.