Athersys (ATHX) Stock Rating Lowered by ValuEngine

Athersys (NASDAQ:ATHX) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Tuesday.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Athersys from a “hold” rating to a “buy” rating and set a $1.75 price objective for the company in a research note on Monday, August 14th. Maxim Group set a $12.00 price objective on shares of Athersys and gave the stock a “buy” rating in a research note on Monday, August 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $7.17.

Shares of Athersys (NASDAQ ATHX) opened at $1.85 on Tuesday. Athersys has a 12 month low of $1.02 and a 12 month high of $2.63.

In other Athersys news, EVP John J. Harrington sold 15,000 shares of Athersys stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $2.17, for a total value of $32,550.00. Following the completion of the sale, the executive vice president now owns 679,416 shares in the company, valued at approximately $1,474,332.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.40% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Bank of America Corp DE raised its stake in 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 purchasing an additional 9,019 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Athersys by 7.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 284,540 shares of the biopharmaceutical company’s stock worth $430,000 after purchasing an additional 19,375 shares in the last quarter. Rhumbline Advisers raised its stake in Athersys by 34.2% in the 2nd quarter. Rhumbline Advisers now owns 110,064 shares of the biopharmaceutical company’s stock worth $166,000 after purchasing an additional 28,030 shares in the last quarter. NEXT Financial Group Inc raised its stake in 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 purchasing an additional 31,000 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in 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 purchasing an additional 43,600 shares in the last quarter. Institutional investors and hedge funds own 21.06% of the company’s stock.

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About Athersys

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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