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

Several research firms recently commented on ATHX. BidaskClub raised Athersys from a “sell” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research raised Athersys from a “sell” rating to a “hold” rating in a research note on Monday, July 23rd. 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 P/E ratio of -7.31 and a beta of -0.65.

Athersys (NASDAQ:ATHX) last announced its quarterly 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 the consensus estimate of $12.82 million. Athersys had a negative return on equity of 61.52% and a negative net margin of 106.99%. equities research analysts predict that Athersys, Inc. will post -0.21 EPS for the current fiscal year.

In other Athersys news, insider Laura K. Campbell sold 28,868 shares of Athersys stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $2.01, for a total transaction of $58,024.68. Following the completion of the sale, the insider now directly owns 590,424 shares of the company’s stock, valued at approximately $1,186,752.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John J. Harrington sold 15,000 shares of Athersys stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $1.91, for a total value of $28,650.00. Following the sale, the executive vice president now directly owns 684,320 shares of the company’s stock, valued at $1,307,051.20. The disclosure for this sale can be found here. Insiders have sold a total of 76,088 shares of company stock valued at $149,487 over the last ninety days. 18.60% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Athersys by 214.9% in the 1st quarter. JPMorgan Chase & Co. now owns 69,370 shares of the biopharmaceutical company’s stock valued at $127,000 after purchasing an additional 47,339 shares during the last quarter. Alps Advisors Inc. purchased a new stake in shares of Athersys in the 2nd quarter valued at about $394,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Athersys by 50.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 250,900 shares of the biopharmaceutical company’s stock valued at $495,000 after purchasing an additional 84,600 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Athersys by 21.3% in the 2nd quarter. Renaissance Technologies LLC now owns 439,900 shares of the biopharmaceutical company’s stock valued at $867,000 after purchasing an additional 77,100 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Athersys by 377.6% in the 2nd quarter. Millennium Management LLC now owns 457,667 shares of the biopharmaceutical company’s stock valued at $902,000 after purchasing an additional 361,835 shares during 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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