Athersys (ATHX) Shares Up 10.8%

Athersys, Inc. (NASDAQ:ATHX)’s share price shot up 10.8% during trading on Tuesday . The company traded as high as $2.20 and last traded at $2.16. 1,516,300 shares changed hands during trading, an increase of 120% from the average session volume of 690,272 shares. The stock had previously closed at $1.95.

A number of brokerages recently commented on ATHX. BidaskClub upgraded Athersys from a “sell” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research raised Athersys from a “sell” rating to a “hold” rating and set a $2.25 target price for the company in a research note on Wednesday, August 8th. Finally, Maxim Group reissued a “buy” rating and set a $6.00 target price on shares of Athersys in a research note on Wednesday, August 8th.

The company has a market capitalization of $299.34 million, a PE ratio of -7.31 and a beta of -0.65.

Athersys (NASDAQ:ATHX) last posted its earnings results on Tuesday, August 7th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter. The company had revenue of $19.39 million during the quarter, compared to analysts’ expectations of $12.82 million. Athersys had a negative return on equity of 61.52% and a negative net margin of 106.99%. sell-side analysts predict that Athersys, Inc. will post -0.21 EPS for the current year.

In other Athersys news, insider Laura K. Campbell sold 14,420 shares of the firm’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $2.01, for a total transaction of $28,984.20. Following the completion of the sale, the insider now owns 602,944 shares of the company’s stock, valued at $1,211,917.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William Lehmann, Jr. sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $1.88, for a total value of $28,200.00. Following the sale, the insider now directly owns 517,373 shares of the company’s stock, valued at approximately $972,661.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,088 shares of company stock valued at $149,487. 18.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ATHX. JPMorgan Chase & Co. grew its stake in shares of Athersys by 214.9% in the first quarter. JPMorgan Chase & Co. now owns 69,370 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 47,339 shares in the last quarter. Alps Advisors Inc. acquired a new stake in shares of Athersys in the second quarter valued at $394,000. Schwab Charles Investment Management Inc. grew its stake in shares of Athersys by 50.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 250,900 shares of the biopharmaceutical company’s stock valued at $495,000 after buying an additional 84,600 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Athersys by 21.3% in the second quarter. Renaissance Technologies LLC now owns 439,900 shares of the biopharmaceutical company’s stock valued at $867,000 after buying an additional 77,100 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Athersys by 377.6% in the second quarter. Millennium Management LLC now owns 457,667 shares of the biopharmaceutical company’s stock valued at $902,000 after buying an additional 361,835 shares in the last quarter. 19.02% of the stock is owned by institutional investors and hedge funds.

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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