Athersys (NASDAQ:ATHX) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, March 22nd.
Separately, Maxim Group reiterated a “buy” rating and issued a $6.00 price target on shares of Athersys in a research report on Tuesday, March 13th.
Shares of NASDAQ ATHX traded up $0.01 during midday trading on Thursday, hitting $1.96. 697,437 shares of the stock traded hands, compared to its average volume of 608,965. Athersys has a one year low of $1.29 and a one year high of $2.63. The stock has a market capitalization of $239.08, a price-to-earnings ratio of -6.76 and a beta of -0.85.
Athersys (NASDAQ:ATHX) last issued its quarterly earnings results on Tuesday, March 13th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.04). The business had revenue of $1.17 million during the quarter, compared to analysts’ expectations of $0.42 million. Athersys had a negative return on equity of 123.22% and a negative net margin of 869.50%. The company’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.10) EPS. analysts expect that Athersys will post -0.34 EPS for the current fiscal year.
In other news, EVP John J. Harrington sold 15,000 shares of the business’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $1.84, for a total transaction of $27,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider William Lehmann, Jr. sold 14,000 shares of the business’s stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $1.89, for a total transaction of $26,460.00. Following the sale, the insider now directly owns 481,973 shares in the company, valued at $910,928.97. The disclosure for this sale can be found here. 9.40% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Athersys during the fourth quarter valued at $108,000. OxFORD Asset Management LLP purchased a new stake in shares of Athersys during the third quarter valued at $178,000. The Manufacturers Life Insurance Company lifted its position in Athersys by 345.5% during the second quarter. The Manufacturers Life Insurance Company now owns 88,561 shares of the biopharmaceutical company’s stock valued at $134,000 after purchasing an additional 68,680 shares during the period. Wells Fargo & Company MN lifted its position in Athersys by 102.0% during the second quarter. Wells Fargo & Company MN now owns 123,576 shares of the biopharmaceutical company’s stock valued at $187,000 after purchasing an additional 62,400 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Athersys by 11.8% during the third quarter. Bank of New York Mellon Corp now owns 318,038 shares of the biopharmaceutical company’s stock valued at $656,000 after purchasing an additional 33,498 shares during the period. 19.29% of the stock is currently owned by hedge funds and other institutional investors.
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Athersys, Inc is an international biotechnology company that is focused primarily in the field of regenerative medicine. The Company’s MultiStem cell therapy, an allogeneic stem cell product, is its lead platform product and is in later-stage clinical development. Its clinical development programs are focused on treating neurological conditions, cardiovascular disease, inflammatory and immune disorders, certain pulmonary conditions and other conditions where the standard of care is limited or inadequate for many patients.
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