Athersys (NASDAQ:ATHX) Shares Down 5.9%

Athersys, Inc. (NASDAQ:ATHX)’s share price was down 5.9% on Thursday . The company traded as low as $1.25 and last traded at $1.27, approximately 1,020,612 shares traded hands during mid-day trading. An increase of 58% from the average daily volume of 646,706 shares. The stock had previously closed at $1.35.

A number of research analysts have weighed in on ATHX shares. ValuEngine raised shares of Athersys from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. BidaskClub lowered shares of Athersys from a “hold” rating to a “sell” rating in a research note on Sunday, June 30th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Athersys in a research note on Thursday, May 9th.

The company’s 50 day simple moving average is $1.54.

Athersys (NASDAQ:ATHX) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. Athersys had a negative net margin of 458.03% and a negative return on equity of 100.68%. The firm had revenue of $4.26 million for the quarter.

In other Athersys news, insider William Lehmann, Jr. sold 20,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $1.80, for a total value of $36,000.00. Following the transaction, the insider now directly owns 574,952 shares of the company’s stock, valued at $1,034,913.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 15.31% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Athersys by 11.6% in the fourth quarter. BlackRock Inc. now owns 7,555,866 shares of the biopharmaceutical company’s stock valued at $10,881,000 after purchasing an additional 786,445 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Athersys by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 1,386,956 shares of the biopharmaceutical company’s stock valued at $1,997,000 after purchasing an additional 61,106 shares during the last quarter. Coastal Investment Advisors Inc. raised its holdings in shares of Athersys by 20.5% in the second quarter. Coastal Investment Advisors Inc. now owns 410,950 shares of the biopharmaceutical company’s stock valued at $685,000 after purchasing an additional 69,900 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Athersys by 29.7% in the fourth quarter. Bank of America Corp DE now owns 373,484 shares of the biopharmaceutical company’s stock valued at $538,000 after purchasing an additional 85,583 shares during the last quarter. Finally, Alps Advisors Inc. raised its holdings in shares of Athersys by 4.5% in the first quarter. Alps Advisors Inc. now owns 342,370 shares of the biopharmaceutical company’s stock valued at $514,000 after purchasing an additional 14,789 shares during the last quarter. Institutional investors own 19.64% of the company’s stock.

About Athersys (NASDAQ:ATHX)

Athersys, Inc, a biotechnology company, focuses on the research and development activities in the field of regenerative medicine. Its clinical development programs are focused on treating neurological conditions, cardiovascular diseases, inflammatory and immune disorders, and pulmonary and other conditions.

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