Robert Renninger, the Vice President of Finance at Athira Pharma, Inc. (NASDAQ:ATHA), recently executed several transactions involving the company’s stock, according to a filing with the Securities and Exchange Commission. These transactions come at a time when the stock has experienced significant volatility, with InvestingPro data showing an 81.8% decline over the past year, though the stock currently trades at $0.57, above its 52-week low of $0.41. The report highlights a sale of 2,881 shares on January 2, 2025, at a weighted average price of $0.5619 per share, totaling approximately $1,618.
In addition to the sale, Renninger acquired 12,359 shares on December 31, 2024, through the conversion of restricted stock units (RSUs), which did not involve any cash transaction. Earlier, on November 18, 2024, he voluntarily reported acquiring 3,651 shares at $0.55 per share under the company’s Employee Stock Purchase Plan, amounting to $2,008. According to InvestingPro analysis, while Athira maintains a healthy current ratio of 2.95 and holds more cash than debt, the company’s overall financial health score is currently rated as WEAK.
These transactions reflect Renninger’s active management of his equity holdings in Athira Pharma, where he currently holds 89,724 shares following the recent sale. For deeper insights into Athira’s valuation and 11 additional key ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Athira Pharma, Inc. 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. Concurrently, Athira Pharma intends to file a new registration statement with the Securities and Exchange Commission, allowing the firm to offer and sell securities up to $300 million. Additionally, the company has faced significant changes following disappointing results from its Phase 2/3 LIFT-AD study for Alzheimer’s disease treatment, resulting in Mizuho (NYSE:MFG) Securities downgrading Athira Pharma’s stock to "Neutral". In response, Athira Pharma is shifting its focus to ATH-1105, a drug for ALS currently in Phase 1 trials, and has announced a workforce reduction by 70%. Despite challenges, Mizuho maintained an Outperform rating on Athira Pharma, while BTIG downgraded the stock to Neutral. Lastly, Athira Pharma has reached a preliminary settlement in a shareholder derivative lawsuit, reflecting its ongoing commitment to advancing its pipeline of therapeutic candidates.
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