Astria Therapeutics (NASDAQ:ATXS) Shares Down 2.9% Following Analyst Downgrade

Astria Therapeutics, Inc. (NASDAQ:ATXS)’s share price traded down 2.9% 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. 312,375 shares changed hands during trading, a decline of 68% from the average session volume of 972,972 shares. The stock had previously closed at $9.80.

Other analysts have also issued research reports about the company. Jefferies Financial Group upped their price objective on Astria Therapeutics from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Wedbush reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Astria Therapeutics in a research report on Tuesday, March 26th.

Insider Buying and Selling

In related news, insider Christopher Morabito sold 9,200 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $11.15, for a total transaction of $102,580.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Perceptive Advisors Llc bought 2,481,350 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average price of $12.09 per share, for a total transaction of $29,999,521.50. Following the completion of the purchase, the director now owns 4,873,721 shares in the company, valued at approximately $58,923,286.89. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher Morabito sold 9,200 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $11.15, for a total transaction of $102,580.00. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Astria Therapeutics

Several large investors have recently bought and sold shares of the stock. Perceptive Advisors LLC boosted its stake in Astria Therapeutics by 82.9% in the fourth quarter. Perceptive Advisors LLC now owns 4,004,070 shares of the biotechnology company’s stock valued at $30,751,000 after acquiring an additional 1,814,608 shares in the last quarter. Vivo Capital LLC boosted its stake in Astria Therapeutics by 47.7% in the fourth quarter. Vivo Capital LLC now owns 2,482,727 shares of the biotechnology company’s stock valued at $19,067,000 after acquiring an additional 801,528 shares in the last quarter. Armistice Capital LLC acquired a new position in Astria Therapeutics in the fourth quarter valued at $12,119,000. Affinity Asset Advisors LLC boosted its stake in Astria Therapeutics by 46.6% in the fourth quarter. Affinity Asset Advisors LLC now owns 1,466,465 shares of the biotechnology company’s stock valued at $11,262,000 after acquiring an additional 466,165 shares in the last quarter. Finally, ADAR1 Capital Management LLC acquired a new position in Astria Therapeutics in the fourth quarter valued at $1,469,000. Institutional investors and hedge funds own 98.98% of the company’s stock.

Astria Therapeutics Price Performance

The company has a market cap of $529.24 million, a price-to-earnings ratio of -4.12 and a beta of 0.69. The firm’s 50 day simple moving average is $13.31 and its 200-day simple moving average is $9.27.

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

About Astria Therapeutics

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.