Atyr Pharma LIFE shares rallied 26.3% in the last trading session to close at $6.14. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 21% loss over the past four weeks.
Earlier this week, the company announced encouraging biomarker data from a phase II study evaluating its COVID-19 therapeutic candidate, ATYR1923. Data showed that the candidate reduced inflammatory cytokines in hospitalized patients receiving standard-of-care, but who do not require mechanical ventilation. Top-line data from the same study has shown that treatment with ATYR1923 has improved median time to recovery compared to placebo. These positive findings are boosting the prospect of the company, as a potential approval to the candidate may boost its revenues going forward.
Price and Consensus
This biotherapeutics company is expected to post quarterly loss of $0.81 per share in its upcoming report, which represents a year-over-year change of +47.4%. Revenues are expected to be $0.13 million, down 10% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Atyr Pharma, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on LIFE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
aTyr Pharma, Inc. (NASDAQ:LIFE): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research