Athersys, Inc. (ATHX) Shares Gap Down to $2.23

Shares of Athersys, Inc. (NASDAQ:ATHX) gapped down before the market opened 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 changing hands.

ATHX has been the subject of a number of research analyst reports. Maxim Group set a $12.00 price target on Athersys and gave the company a “buy” rating in a research report on Thursday, October 5th. Zacks Investment Research raised Athersys from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a research report on Thursday, September 7th. Finally, ValuEngine downgraded Athersys from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Athersys presently has a consensus rating of “Hold” and an average price target of $7.17.

The company’s 50 day moving average price is $2.14 and its 200 day moving average price is $1.68. The firm’s market capitalization is $256.30 million.

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 consensus estimate of ($0.06). The business had revenue of $0.67 million for the quarter, compared to analysts’ expectations of $0.96 million. Athersys had a negative return on equity of 121.47% and a negative net margin of 729.07%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.08) EPS. On average, analysts anticipate that Athersys, Inc. will post ($0.24) EPS for the current fiscal year.

In related news, insider William Lehmann, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $2.38, for a total value of $35,700.00. Following the transaction, the insider now directly owns 527,380 shares of the company’s stock, valued at approximately $1,255,164.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in Athersys by 17.2% in the 1st quarter. Bank of America Corp DE now owns 61,580 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 9,019 shares in the last quarter. Wells Fargo & Company MN lifted its position in Athersys by 4.8% in the 1st 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 lifted its position in Athersys by 329.7% in the 2nd 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 bought a new position in Athersys in the 2nd quarter valued at approximately $113,000. Finally, Blair William & Co. IL lifted its position in Athersys by 708.0% in the 2nd 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. 19.08% of the stock is currently owned by institutional investors and hedge funds.

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About Athersys

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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