Catabasis Pharmaceuticals (NASDAQ:ATXS) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Catabasis Pharmaceuticals (NASDAQ:ATXS) from a hold rating to a sell rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “Astria Therapeutics is a biopharmaceutical company which focuses on therapies to treat allergic and immunological diseases. The company’s program include STAR-0215, is a monoclonal antibody inhibitor of plasma kallikrein in preclinical development for the treatment of hereditary angioedema. Astria Therapeutics, formerly known as Catabasis Pharmaceuticals Inc., is based in BOSTON. “

Separately, Jefferies Financial Group started coverage on Catabasis Pharmaceuticals in a report on Wednesday, September 29th. They set a buy rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Buy and an average target price of $20.17.

Shares of Catabasis Pharmaceuticals stock opened at $4.73 on Tuesday. The company’s 50-day moving average price is $5.92 and its two-hundred day moving average price is $8.27. Catabasis Pharmaceuticals has a 52 week low of $4.30 and a 52 week high of $47.82.

Catabasis Pharmaceuticals (NASDAQ:ATXS) last issued its quarterly earnings results on Wednesday, November 10th. The biotechnology company reported ($0.61) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.31. During the same quarter in the prior year, the firm earned ($3.36) earnings per share. As a group, analysts predict that Catabasis Pharmaceuticals will post -9.11 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of ATXS. RA Capital Management L.P. acquired a new position in shares of Catabasis Pharmaceuticals in the 2nd quarter valued at about $12,550,000. Perceptive Advisors LLC increased its holdings in shares of Catabasis Pharmaceuticals by 297.6% in the 2nd quarter. Perceptive Advisors LLC now owns 7,687,185 shares of the biotechnology company’s stock valued at $16,219,000 after purchasing an additional 5,753,634 shares during the period. Fairmount Funds Management LLC increased its holdings in shares of Catabasis Pharmaceuticals by 7,597.0% in the 2nd quarter. Fairmount Funds Management LLC now owns 4,092,166 shares of the biotechnology company’s stock valued at $8,634,000 after purchasing an additional 4,039,000 shares during the period. VR Adviser LLC bought a new stake in shares of Catabasis Pharmaceuticals in the 2nd quarter valued at approximately $6,824,000. Finally, Logos Global Management LP bought a new stake in shares of Catabasis Pharmaceuticals in the 2nd quarter valued at approximately $6,731,000. Institutional investors own 64.22% of the company’s stock.

About Catabasis Pharmaceuticals

Astria Therapeutics, Inc engages in the discovery, development, and commercialization of novel therapeutics. Its lead product candidate is edasalonexent, which is intended for the treatment of Duchenne muscular dystrophy. The company was founded by Michael R. Jirousek, Jill C. Milne and Steven E. Shoelson on June 26, 2008 and is headquartered in Boston, MA.

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