Athersys, Inc. (ATHX) Rating Increased to Hold at ValuEngine
Athersys, Inc. (NASDAQ:ATHX) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
A number of other equities research analysts have also weighed in on ATHX. Maxim Group reiterated a “buy” rating and issued a $12.00 price objective on shares of Athersys in a research report on Friday, September 1st. Zacks Investment Research upgraded Athersys from a “hold” rating to a “buy” rating and set a $2.00 price objective on the stock in a research report on Tuesday, August 29th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Athersys currently has a consensus rating of “Buy” and an average target price of $7.17.
Shares of Athersys (ATHX) traded up $0.14 during trading on Wednesday, reaching $2.00. The company’s stock had a trading volume of 1,183,205 shares, compared to its average volume of 1,043,906. Athersys has a 1-year low of $1.02 and a 1-year high of $2.63.
In other news, EVP John J. Harrington sold 15,000 shares of Athersys stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $2.17, for a total value of $32,550.00. Following the sale, the executive vice president now directly owns 679,416 shares in the company, valued at approximately $1,474,332.72. The sale was disclosed in a filing with the SEC, which is available through this link. 9.40% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN grew its position in shares of Athersys by 4.8% in the 1st quarter. Wells Fargo & Company MN now owns 61,176 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 2,800 shares during the last quarter. Bank of America Corp DE grew its position in shares of Athersys by 17.2% in the 1st quarter. Bank of America Corp DE now owns 61,580 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 9,019 shares during the last quarter. Thompson Davis & CO. Inc. grew its position in shares of Athersys by 743.9% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 64,303 shares of the biopharmaceutical company’s stock worth $132,000 after buying an additional 56,683 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Athersys by 329.7% in the 2nd quarter. SG Americas Securities LLC now owns 73,434 shares of the biopharmaceutical company’s stock worth $111,000 after buying an additional 56,345 shares during the last quarter. Finally, State of Wisconsin Investment Board bought a new stake in shares of Athersys in the 2nd quarter worth approximately $113,000. Hedge funds and other institutional investors own 19.94% of the company’s stock.
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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