Athersys, Inc. (NASDAQ:ATHX) shot up 7.2% during mid-day trading on Monday . The stock traded as high as $1.84 and last traded at $1.79. 1,534,248 shares changed hands during trading, an increase of 51% from the average session volume of 1,017,098 shares. The stock had previously closed at $1.67.
Several research firms have issued reports on ATHX. ValuEngine cut shares of Athersys from a “hold” rating to a “sell” rating in a research note on Tuesday, December 5th. Maxim Group set a $12.00 price target on shares of Athersys and gave the stock a “buy” rating in a research note on Thursday, November 16th. Finally, Zacks Investment Research lowered shares of Athersys from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $7.17.
In other news, insider William Lehmann, Jr. sold 15,000 shares of the stock in a transaction dated 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 approximately $1,255,164.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 9.40% 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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