aTyr Pharma (NASDAQ:ATYR) Shares Gap Up – Here’s Why

Shares of aTyr Pharma, Inc. (NASDAQ:ATYR) gapped up before the market opened on Monday . The stock had previously closed at $5.99, but opened at $6.26. aTyr Pharma shares last traded at $6.13, with a volume of 1,164,738 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 target price on shares of aTyr Pharma in a research note on Wednesday, June 4th. Wells Fargo & Company upped their target price on shares of aTyr Pharma from $17.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $20.20.

aTyr Pharma Trading Down 5.9%

The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $4.82 and its two-hundred day simple moving average is $3.94. The company has a market capitalization of $501.52 million, a price-to-earnings ratio of -6.94 and a beta of 0.89.

aTyr Pharma (NASDAQ:ATYR) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.02. Research analysts forecast that aTyr Pharma, Inc. will post -0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. purchased a new stake in aTyr Pharma during the fourth quarter valued at about $53,093,000. Point72 Asset Management L.P. bought a new position in shares of aTyr Pharma in the 4th quarter worth about $17,677,000. Octagon Capital Advisors LP increased its stake in aTyr Pharma by 294.7% during the 1st quarter. Octagon Capital Advisors LP now owns 3,552,000 shares of the company’s stock valued at $10,727,000 after purchasing an additional 2,652,000 shares in the last quarter. Tikvah Management LLC bought a new stake in shares of aTyr Pharma in the fourth quarter worth approximately $8,908,000. Finally, Woodline Partners LP purchased a new position in shares of aTyr Pharma in the fourth quarter worth approximately $6,092,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

aTyr Pharma Company Profile

aTyr Pharma, Inc engages in the discovery and development of medicines based on novel biological pathways. Its product pipeline includes ATYR1923, ATYR2810, NRP2 mAbs, and AARS-1, DARS-1. The company was founded by Paul Schimmel, Xiang-Lei Yang and Bruce Beutler on September 8, 2005 and is headquartered in San Diego, CA.