Athersys (ATHX) Trading 6.2% Higher

Athersys (NASDAQ:ATHX) traded up 6.2% during mid-day trading on Monday . The company traded as high as $2.28 and last traded at $2.21. 1,408,681 shares changed hands during trading, an increase of 137% from the average session volume of 594,164 shares. The stock had previously closed at $2.08.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Athersys from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a research report on Tuesday, April 17th. ValuEngine upgraded shares of Athersys from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, Maxim Group restated a “buy” rating and set a $6.00 price objective on shares of Athersys in a research report on Tuesday, March 13th.

The stock has a market capitalization of $286.95 million, a PE ratio of -7.62 and a beta of -0.91.

Athersys (NASDAQ:ATHX) last issued its quarterly earnings data on Thursday, May 10th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.01. Athersys had a negative return on equity of 119.58% and a negative net margin of 1,112.74%. The firm had revenue of $1.07 million during the quarter, compared to the consensus estimate of $1.17 million. analysts anticipate that Athersys will post -0.34 earnings per share for the current fiscal year.

In other Athersys news, EVP John J. Harrington sold 15,000 shares of Athersys stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $1.84, for a total value of $27,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Lehmann, Jr. sold 14,000 shares of Athersys stock in a transaction that occurred on Tuesday, March 20th. The stock was sold at an average price of $1.89, for a total transaction of $26,460.00. Following the completion of the sale, the insider now directly owns 481,973 shares of the company’s stock, valued at $910,928.97. The disclosure for this sale can be found here. Insiders own 18.60% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in Athersys by 214.9% in the 1st quarter. JPMorgan Chase & Co. now owns 69,370 shares of the biopharmaceutical company’s stock worth $127,000 after acquiring an additional 47,339 shares during the period. Northern Trust Corp grew its stake in Athersys by 7.1% in the 1st quarter. Northern Trust Corp now owns 1,215,690 shares of the biopharmaceutical company’s stock worth $2,225,000 after acquiring an additional 80,708 shares during the period. Perkins Capital Management Inc. grew its stake in Athersys by 17.7% in the 4th quarter. Perkins Capital Management Inc. now owns 363,375 shares of the biopharmaceutical company’s stock worth $658,000 after acquiring an additional 54,650 shares during the period. SG Americas Securities LLC purchased a new stake in Athersys in the 4th quarter worth approximately $108,000. Finally, Wells Fargo & Company MN grew its stake in Athersys by 35.3% in the 3rd quarter. Wells Fargo & Company MN now owns 167,176 shares of the biopharmaceutical company’s stock worth $345,000 after acquiring an additional 43,600 shares during the period. 17.49% of the stock is owned by hedge funds and other institutional investors.

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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