Astria Therapeutics (NASDAQ:ATXS) Trading Down 2.9% on Analyst Downgrade

Astria Therapeutics, Inc. (NASDAQ:ATXS)’s stock price dropped 2.9% during trading on Tuesday after HC Wainwright lowered their price target on the stock from $18.00 to $16.00. HC Wainwright currently has a buy rating on the stock. Astria Therapeutics traded as low as $9.51 and last traded at $9.52. Approximately 312,375 shares traded hands during trading, a decline of 68% from the average daily volume of 972,972 shares. The stock had previously closed at $9.80.

ATXS has been the subject of several other research reports. Wedbush restated an “outperform” rating and set a $17.00 price target on shares of Astria Therapeutics in a report on Tuesday, March 26th. Jefferies Financial Group lifted their price objective on shares of Astria Therapeutics from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, March 25th.

Insider Buying and Selling

In related news, insider Christopher Morabito sold 9,200 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $11.15, for a total value of $102,580.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Astria Therapeutics news, insider Christopher Morabito sold 9,200 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $11.15, for a total transaction of $102,580.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Perceptive Advisors Llc acquired 2,481,350 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were acquired at an average cost of $12.09 per share, for a total transaction of $29,999,521.50. Following the completion of the acquisition, the director now owns 4,873,721 shares of the company’s stock, valued at $58,923,286.89. The disclosure for this purchase can be found here. 3.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Astria Therapeutics

Several hedge funds have recently bought and sold shares of ATXS. AJOVista LLC bought a new stake in Astria Therapeutics during the fourth quarter valued at $51,000. Jump Financial LLC purchased a new stake in shares of Astria Therapeutics in the 3rd quarter valued at about $111,000. Panagora Asset Management Inc. bought a new stake in shares of Astria Therapeutics during the 4th quarter valued at about $119,000. Trexquant Investment LP bought a new stake in shares of Astria Therapeutics during the 4th quarter valued at about $409,000. Finally, ADAR1 Capital Management LLC bought a new stake in shares of Astria Therapeutics during the 4th quarter valued at about $1,469,000. Hedge funds and other institutional investors own 98.98% of the company’s stock.

Astria Therapeutics Stock Performance

The stock has a market cap of $536.92 million, a P/E ratio of -4.19 and a beta of 0.69. The stock has a 50-day moving average price of $13.40 and a 200-day moving average price of $9.25.

Astria Therapeutics (NASDAQ:ATXS) last issued its quarterly earnings results on Monday, March 4th. The biotechnology company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.08). Sell-side analysts forecast that Astria Therapeutics, Inc. will post -1.55 earnings per share for the current fiscal year.

Astria Therapeutics Company Profile

Astria Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for allergic and immunological diseases in the United States. Its lead product candidate is STAR-0215, a monoclonal antibody inhibitor of plasma kallikrein, which is in Phase 1b/2 clinical trials for the treatment of hereditary angioedema.