aTyr Pharma Inc (NASDAQ:LIFE) shareholders are happy campers today after it was announced yesterday that the company would be added to the NASDAQ Biotech Index, a move that could create even more demand for the stock in the future as hedge funds and other mutual funds may consider investments.
The move will be effective starting this coming Monday, and it really is the ultimate sign of respect for a company which relies heavily on Physiocrine biology to develop new medications for rare diseases. Founded in 2005, aTyr Pharma Inc (NASDAQ:LIFE) stock has had a bumpy ride over the past year, reaching highs of over $28 and bottoming out at around $7.37.
The stock is up 21.14% or $1.81 following the news, hitting $10.37 per share. About 305,792 shares traded hands or up 285.55% from the average. LIFE has declined 58.41% since May 14, 2015 and is currently downtrending. It has underperformed the S&P500 by 56.14%.
From a total of 2 analysts covering Life Technologies Corp (NASDAQ:LIFE) stock, 0 rate it a “Buy”, 1 a “Sell”, and 1 a “Hold”. This means that 0 of the ratings are positive. Life Technologies Corp was the topic of 3 analyst reports since August 25, 2015 according to the firm StockzIntelligence Inc. Citigroup initiated shares on December 16 with a “Neutral” rating.
aTyr Pharma, Inc. is a clinical-stage biotherapeutics company. The company has a market cap of $236.93 million. The Firm is engaged in the discovery and clinical development of medicines for patients suffering from severe, rare diseases using a set of physiological modulators. It currently has negative earnings. The Firm has discovered approximately 300 Physiocrines, a class of naturally occurring proteins that promotes homeostasis.