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

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

Aspen Neuroscience Trading Down 7.5%

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 Activity

In other 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 cost of $15.00 per share, with a total value of $15,000,000.00. Following the completion of the purchase, the director owned 3,589,132 shares of the company’s stock, valued at $53,836,980. This represents a 38.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter A. Thompson bought 1,000,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were purchased at an average price of $15.00 per share, for a total transaction of $15,000,000.00. Following the completion of the acquisition, the director owned 3,589,132 shares of the company’s stock, valued at $53,836,980. The trade was a 38.62% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders purchased 3,333,333 shares of company stock valued at $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.