Astria Therapeutics (NASDAQ:ATXS) Shares Gap Up on Analyst Upgrade

Astria Therapeutics, Inc. (NASDAQ:ATXS - Get Free Report)'s stock price gapped up before the market opened on Thursday after Oppenheimer raised their price target on the stock from $26.00 to $28.00. The stock had previously closed at $10.61, but opened at $11.53. Oppenheimer currently has an outperform rating on the stock. Astria Therapeutics shares last traded at $10.67, with a volume of 27,733 shares changing hands.

Several other equities analysts also recently weighed in on the company. Evercore ISI upgraded Astria Therapeutics to a "strong-buy" rating in a report on Wednesday, August 14th. HC Wainwright reiterated a "buy" rating and issued a $16.00 price objective on shares of Astria Therapeutics in a report on Friday, September 27th. TD Cowen began coverage on Astria Therapeutics in a report on Monday, July 29th. They issued a "buy" rating and a $35.00 price objective for the company. Finally, Wedbush reiterated an "outperform" rating and issued a $22.00 price objective on shares of Astria Therapeutics in a report on Tuesday, August 13th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $25.60.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. RA Capital Management L.P. purchased a new position in shares of Astria Therapeutics during the 1st quarter valued at about $62,115,000. FMR LLC increased its stake in Astria Therapeutics by 29.2% in the 3rd quarter. FMR LLC now owns 7,822,275 shares of the biotechnology company's stock worth $86,123,000 after acquiring an additional 1,767,714 shares during the last quarter. Artal Group S.A. bought a new stake in Astria Therapeutics in the 1st quarter worth approximately $12,445,000. Vestal Point Capital LP increased its stake in Astria Therapeutics by 23.1% in the 3rd quarter. Vestal Point Capital LP now owns 4,000,000 shares of the biotechnology company's stock worth $44,040,000 after acquiring an additional 750,000 shares during the last quarter. Finally, Nantahala Capital Management LLC bought a new stake in Astria Therapeutics in the 2nd quarter worth approximately $6,142,000. 98.98% of the stock is owned by hedge funds and other institutional investors.

Astria Therapeutics Trading Down 4.9 %

The stock has a 50 day simple moving average of $11.46 and a 200-day simple moving average of $10.61. The firm has a market cap of $569.33 million, a P/E ratio of -4.53 and a beta of 0.71.

Astria Therapeutics (NASDAQ:ATXS - Get Free Report) last released its earnings results on Monday, August 12th. The biotechnology company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.05). As a group, equities analysts forecast that Astria Therapeutics, Inc. will post -1.68 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.