Wall Street Zen Upgrades Aspen Neuroscience (NASDAQ:ASPE) to “Hold”

Aspen Neuroscience (NASDAQ:ASPE) was upgraded by research analysts at Wall Street Zen to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

Aspen Neuroscience Price Performance

NASDAQ:ASPE opened at $12.59 on Friday. Aspen Neuroscience has a twelve month low of $11.20 and a twelve month high of $14.90.

Insider Buying and Selling

In other Aspen Neuroscience news, Director Orbimed Advisors Llc bought 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was acquired at an average price of $15.00 per share, with a total value of $15,000,000.00. Following the completion of the transaction, the director owned 3,589,132 shares in the company, valued at approximately $53,836,980. This trade represents a 38.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Venture Fund X. L.P. Arch purchased 1,200,000 shares of the stock in a transaction on Monday, November 2nd. The stock was acquired at an average price of $15.00 per share, for a total transaction of $18,000,000.00. Following the completion of the purchase, the insider directly owned 1,200,000 shares in the company, valued at approximately $18,000,000. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 3,333,333 shares of company stock worth $49,999,995.

Aspen Neuroscience Company Profile

Aspen Neuroscience, Inc. is a biotechnology company focused on developing regenerative medicine therapies for neurological disorders. The company’s approach uses a patient’s own cells to create induced pluripotent stem cells, which are then differentiated into specialized cells intended to replace damaged or lost tissue. Aspen’s lead program, ANPD001, is designed as a potential cell replacement therapy for Parkinson’s disease. The company has also developed genetic screening and manufacturing processes intended to evaluate a patient’s cells and produce an individualized therapeutic product.