Sofinnova Investments Inc. Purchases New Position in Astria Therapeutics, Inc. (NASDAQ:ATXS)

Sofinnova Investments Inc. purchased a new position in shares of Astria Therapeutics, Inc. (NASDAQ:ATXS) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 60,692 shares of the biotechnology company’s stock, valued at approximately $552,000. Sofinnova Investments Inc. owned approximately 0.11% of Astria Therapeutics at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. RA Capital Management L.P. acquired a new position in shares of Astria Therapeutics during the 1st quarter worth approximately $62,115,000. Perceptive Advisors LLC raised its position in Astria Therapeutics by 82.9% during the fourth quarter. Perceptive Advisors LLC now owns 4,004,070 shares of the biotechnology company’s stock worth $30,751,000 after acquiring an additional 1,814,608 shares during the period. Armistice Capital LLC purchased a new position in Astria Therapeutics during the fourth quarter valued at $12,119,000. Artal Group S.A. acquired a new stake in shares of Astria Therapeutics in the first quarter valued at about $12,445,000. Finally, Vanguard Group Inc. increased its stake in shares of Astria Therapeutics by 23.4% during the first quarter. Vanguard Group Inc. now owns 2,535,891 shares of the biotechnology company’s stock worth $35,693,000 after purchasing an additional 480,184 shares in the last quarter. Hedge funds and other institutional investors own 98.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Evercore ISI raised shares of Astria Therapeutics to a “strong-buy” rating in a research note on Wednesday, August 14th. Oppenheimer raised their target price on Astria Therapeutics from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Wedbush reaffirmed an “outperform” rating and issued a $22.00 price target on shares of Astria Therapeutics in a research note on Tuesday, August 13th. HC Wainwright reissued a “buy” rating and issued a $16.00 price objective on shares of Astria Therapeutics in a research note on Tuesday, August 13th. Finally, TD Cowen started coverage on Astria Therapeutics in a report on Monday, July 29th. They issued a “buy” rating and a $35.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $25.20.

Astria Therapeutics Stock Performance

Shares of Astria Therapeutics stock opened at $11.23 on Tuesday. The business’s 50 day moving average price is $11.23 and its 200 day moving average price is $10.98. The company has a market cap of $633.60 million, a price-to-earnings ratio of -4.84 and a beta of 0.71. Astria Therapeutics, Inc. has a one year low of $4.26 and a one year high of $16.90.

Astria Therapeutics (NASDAQ:ATXS) last announced its quarterly 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). On average, analysts predict that Astria Therapeutics, Inc. will post -1.66 EPS for the current fiscal year.

Astria Therapeutics 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.