Asterias Biotherapeutics (AST) Sees Unusually-High Trading Volume

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Shares of Asterias Biotherapeutics Inc (NYSEAMERICAN:AST) saw an uptick in trading volume on Thursday . 943,720 shares changed hands during trading, an increase of 363% from the previous session’s volume of 204,028 shares.The stock last traded at $1.32 and had previously closed at $1.06.

A number of brokerages have recently commented on AST. HC Wainwright set a $11.00 target price on shares of Asterias Biotherapeutics and gave the company a “buy” rating in a report on Monday, July 16th. Zacks Investment Research cut shares of Asterias Biotherapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. B. Riley set a $6.00 target price on shares of Asterias Biotherapeutics and gave the company a “buy” rating in a report on Friday, August 3rd. Finally, Raymond James cut shares of Asterias Biotherapeutics from an “outperform” rating to a “market perform” rating in a research note on Friday, August 10th.

Asterias Biotherapeutics (NYSEAMERICAN:AST) last released its quarterly earnings results on Thursday, August 9th. The biotechnology company reported ($0.10) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.10). The business had revenue of $0.11 million for the quarter, compared to analysts’ expectations of $0.11 million.

A number of institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC purchased a new stake in Asterias Biotherapeutics in the 2nd quarter worth approximately $663,000. Paloma Partners Management Co bought a new position in Asterias Biotherapeutics in the 2nd quarter worth approximately $194,000. Renaissance Technologies LLC bought a new position in Asterias Biotherapeutics in the 2nd quarter worth approximately $142,000. LMR Partners LLP bought a new position in Asterias Biotherapeutics in the 2nd quarter worth approximately $110,000. Finally, Creative Planning boosted its stake in Asterias Biotherapeutics by 50.0% in the 2nd quarter. Creative Planning now owns 180,313 shares of the biotechnology company’s stock worth $243,000 after purchasing an additional 60,100 shares during the period.

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About Asterias Biotherapeutics (NYSEAMERICAN:AST)

Asterias Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing cell-based therapeutics to treat neurological conditions associated with demyelination, and cellular immunotherapies to treat cancer. Its clinical stage programs include AST-OPC1, an oligodendrocyte progenitor cell population derived from pluripotent stem cells that is in Phase I/IIa clinical trial for spinal cord injuries; AST-VAC2 is a non-patient-specific cancer immunotherapy derived from pluripotent stem cells for the treatment of non-small cell lung cancer; and AST-VAC1, a patient-specific cancer immunotherapy that has completed Phase II clinical trial for the treatment of acute myeloid leukemia.

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