Shares of Athersys, Inc. (NASDAQ:ATHX) shot up 6.5% on Wednesday . The stock traded as high as $1.90 and last traded at $1.96. 1,253,580 shares traded hands during mid-day trading, an increase of 96% from the average session volume of 638,663 shares. The stock had previously closed at $1.84.
Several research firms have weighed in on ATHX. Maxim Group reaffirmed a “buy” rating and issued a $6.00 price target on shares of Athersys in a report on Tuesday. ValuEngine cut Athersys from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st.
The stock has a market cap of $243.45, a price-to-earnings ratio of -7.38 and a beta of -0.57.
In related news, COO William Lehmann, Jr. sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $1.80, for a total transaction of $25,200.00. Following the transaction, the chief operating officer now directly owns 503,712 shares of the company’s stock, valued at approximately $906,681.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 29,000 shares of company stock worth $51,075. 9.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of Athersys during the 4th quarter valued at about $108,000. The Manufacturers Life Insurance Company raised its holdings in shares of Athersys by 345.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 88,561 shares of the biopharmaceutical company’s stock valued at $134,000 after buying an additional 68,680 shares in the last quarter. OxFORD Asset Management LLP purchased a new position in shares of Athersys during the 3rd quarter valued at about $178,000. Wells Fargo & Company MN raised its holdings in shares of Athersys by 102.0% during the 2nd quarter. Wells Fargo & Company MN now owns 123,576 shares of the biopharmaceutical company’s stock valued at $187,000 after buying an additional 62,400 shares in the last quarter. Finally, NEXT Financial Group Inc raised its holdings in shares of Athersys by 31.6% during the 3rd quarter. NEXT Financial Group Inc now owns 128,950 shares of the biopharmaceutical company’s stock valued at $280,000 after buying an additional 31,000 shares in the last quarter. 19.66% of the stock is currently owned by 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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