Vice President of Finance at Athira Pharma, Inc. Executes Stock Transactions Amidst Company Challenges
Vice President of Finance at Athira Pharma, Inc. Executes Stock Transactions Amid Volatility
Robert Renninger, the Vice President of Finance at Athira Pharma, Inc. (NASDAQ:ATHA), has recently made significant transactions involving the company’s stock, as reported in a filing with the Securities and Exchange Commission. These transactions come at a time when the stock has seen substantial volatility, with a notable 81.8% decline over the past year. Despite this, the stock currently trades at $0.57, above its 52-week low of $0.41.
Renninger’s recent activities include a sale of 2,881 shares on January 2, 2025, at an average price of $0.5619 per share, totaling around $1,618. Additionally, he acquired 12,359 shares on December 31, 2024, through the conversion of restricted stock units (RSUs) and purchased 3,651 shares at $0.55 per share on November 18, 2024, under the company’s Employee Stock Purchase Plan.
InvestingPro analysis indicates that Athira Pharma maintains a healthy current ratio and holds more cash than debt, but its overall financial health score is currently rated as WEAK. Renninger currently holds 89,724 shares in the company following the recent sale, reflecting his active management of his equity holdings.
In other news, Athira Pharma has been notified by Nasdaq about the risk of delisting due to its share price not meeting the minimum bid price requirement. The company has until April 14, 2025, to regain compliance. Athira Pharma also intends to file a new registration statement with the SEC to offer and sell securities up to $300 million.
Furthermore, following disappointing results from its Phase 2/3 LIFT-AD study for Alzheimer’s disease treatment, Mizuho Securities downgraded Athira Pharma’s stock to “Neutral.” In response, the company is shifting its focus to ATH-1105, a drug for ALS currently in Phase 1 trials, and has announced a 70% workforce reduction. Despite challenges, Mizuho maintained an Outperform rating on Athira Pharma, while BTIG downgraded the stock to Neutral. Additionally, Athira Pharma has reached a preliminary settlement in a shareholder derivative lawsuit, demonstrating its commitment to advancing its therapeutic pipeline.
For more in-depth insights into Athira’s valuation and key ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
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