Athersys, Inc. (ATHX) Shares Gap Down to $2.23
Shares of Athersys, Inc. (NASDAQ:ATHX) gapped down prior to trading on Wednesday . The stock had previously closed at $2.31, but opened at $2.23. Athersys shares last traded at $2.31, with a volume of 4,059,261 shares traded.
A number of brokerages have recently commented on ATHX. ValuEngine cut Athersys from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Zacks Investment Research raised Athersys from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a research report on Monday, September 18th. Finally, Maxim Group set a $12.00 price target on Athersys and gave the stock a “buy” rating in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $7.17.
The company’s market cap is $271.13 million. The company has a 50 day moving average price of $2.10 and a 200 day moving average price of $1.67.
Athersys (NASDAQ:ATHX) last released its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.06). Athersys had a negative net margin of 936.77% and a negative return on equity of 91.02%. The firm had revenue of $0.67 million for the quarter, compared to the consensus estimate of $0.96 million. During the same period last year, the firm earned ($0.08) earnings per share. The company’s quarterly revenue was up 12.4% on a year-over-year basis. Equities analysts predict that Athersys, Inc. will post ($0.24) earnings per share for the current year.
In other news, insider William Lehmann, Jr. sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $2.38, for a total transaction of $35,700.00. Following the transaction, the insider now directly owns 527,380 shares in the company, valued at $1,255,164.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.40% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATHX. Bank of America Corp DE boosted its stake in shares of Athersys by 17.2% during the first quarter. Bank of America Corp DE now owns 61,580 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 9,019 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Athersys by 4.8% in the first quarter. Wells Fargo & Company MN now owns 61,176 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 2,800 shares in the last quarter. SG Americas Securities LLC boosted its stake in Athersys by 329.7% in the second quarter. SG Americas Securities LLC now owns 73,434 shares of the biopharmaceutical company’s stock valued at $111,000 after acquiring an additional 56,345 shares in the last quarter. State of Wisconsin Investment Board acquired a new stake in Athersys in the second quarter valued at approximately $113,000. Finally, Blair William & Co. IL boosted its stake in Athersys by 708.0% in the second quarter. Blair William & Co. IL now owns 80,804 shares of the biopharmaceutical company’s stock valued at $122,000 after acquiring an additional 70,804 shares in the last quarter. Hedge funds and other institutional investors own 19.08% of the company’s stock.
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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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