Athira Pharma (NASDAQ:ATHA) Sees Strong Trading Volume After Better-Than-Expected Earnings

Athira Pharma, Inc. (NASDAQ:ATHA) saw unusually-high trading volume on Thursday following a better than expected earnings announcement. Approximately 13,376 shares were traded during mid-day trading, a decline of 96% from the previous session’s volume of 352,162 shares.The stock last traded at $18.00 and had previously closed at $17.67.

The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.05.

Separately, Zacks Investment Research lowered Athira Pharma from a “buy” rating to a “hold” rating in a research report on Thursday, May 6th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $38.40.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATHA. Franklin Resources Inc. boosted its position in shares of Athira Pharma by 358.0% during the 1st quarter. Franklin Resources Inc. now owns 1,885,901 shares of the company’s stock valued at $34,701,000 after purchasing an additional 1,474,117 shares in the last quarter. Wasatch Advisors Inc. bought a new stake in shares of Athira Pharma during the 1st quarter valued at about $14,871,000. BlackRock Inc. boosted its position in shares of Athira Pharma by 1,077.5% during the 4th quarter. BlackRock Inc. now owns 871,136 shares of the company’s stock valued at $29,837,000 after purchasing an additional 797,152 shares in the last quarter. Northern Trust Corp bought a new stake in shares of Athira Pharma during the 4th quarter valued at about $4,977,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Athira Pharma during the 4th quarter valued at about $2,869,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.

The firm has a 50-day moving average of $18.19 and a 200 day moving average of $22.64.

About Athira Pharma (NASDAQ:ATHA)

Athira Pharma, Inc, a late clinical-stage biopharmaceutical company, focuses on developing small molecules to restore neuronal health and stop neurodegradation. Its lead product candidate is ATH-1017, a blood brain barrier-penetrating, small hepatocyte growth factor/MET activator that is in LIFT-AD Phase II/III and ACT-AD Phase II clinical trials for the treatment of mild-to-moderate Alzheimer's disease, as well as in clinical development for Parkinson's disease.

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