ValuEngine Downgrades Athersys (ATHX) to Sell
Athersys (NASDAQ:ATHX) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Tuesday.
ATHX has been the topic of a number of other reports. Maxim Group reiterated a “buy” rating and set a $12.00 price objective on shares of Athersys in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Athersys from a “hold” rating to a “buy” rating and set a $2.00 price objective on the stock in a research note on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Athersys currently has a consensus rating of “Hold” and an average price target of $7.17.
Shares of Athersys (NASDAQ ATHX) traded down $0.08 during mid-day trading on Tuesday, hitting $1.85. 495,540 shares of the stock traded hands, compared to its average volume of 1,024,704. Athersys has a fifty-two week low of $1.02 and a fifty-two week high of $2.63.
In other Athersys news, insider William Lehmann, Jr. sold 15,000 shares of the stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $2.38, for a total transaction of $35,700.00. Following the transaction, the insider now directly owns 527,380 shares in the company, valued at approximately $1,255,164.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. OxFORD Asset Management LLP bought a new position in shares of Athersys in the 3rd quarter worth about $178,000. Mckinley Capital Management LLC Delaware bought a new position in shares of Athersys in the 3rd quarter worth about $1,093,000. Wells Fargo & Company MN lifted its position in shares of Athersys by 35.3% in the 3rd quarter. Wells Fargo & Company MN now owns 167,176 shares of the biopharmaceutical company’s stock worth $345,000 after buying an additional 43,600 shares during the last quarter. NEXT Financial Group Inc lifted its position in shares of Athersys by 31.6% in the 3rd quarter. NEXT Financial Group Inc now owns 128,950 shares of the biopharmaceutical company’s stock worth $280,000 after buying an additional 31,000 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Athersys by 11.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 318,038 shares of the biopharmaceutical company’s stock worth $656,000 after buying an additional 33,498 shares during the last quarter. Institutional investors own 21.06% 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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