Athersys (ATHX) Cut to Hold at Zacks Investment Research

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Athersys (NASDAQ:ATHX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.

According to Zacks, “Athersys, Inc., a late stage biotechnology company, focuses on the research and development activities in the field of regenerative medicine. Its clinical development programs are focused primarily on treating critical care indications neurological conditions, cardiovascular diseases, inflammatory and immune disorders, pulmonary and other conditions. The company’s lead platform product is MultiStem cell therapy, an off the shelf allogeneic stem cell product currently in Phase 3 clinical development for treating ischemic stroke. Based on promising Phase 2 results, this program has received Fast Track and RMAT (equivalent to Breakthrough Therapy for regenerative medicine treatments) designations from the FDA, as well as similar designations in Japan. The company also has an ongoing Phase II clinical study for treating patients with acute myocardial infarction; a planned Phase II for trauma (supported by the DOD). “

A number of other research firms also recently issued reports on ATHX. ValuEngine downgraded Athersys from a “buy” rating to a “hold” rating in a research report on Thursday, January 10th. BidaskClub downgraded Athersys from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. Finally, Maxim Group set a $8.00 target price on Athersys and gave the stock a “buy” rating in a research report on Wednesday, January 23rd.

Shares of ATHX traded up $0.03 on Monday, reaching $1.55. 192,726 shares of the company’s stock traded hands, compared to its average volume of 660,422. The company has a market capitalization of $218.28 million, a price-to-earnings ratio of -5.34 and a beta of 0.50. Athersys has a 52-week low of $1.29 and a 52-week high of $3.09.

In other news, insider William Lehmann, Jr. sold 15,000 shares of the firm’s stock in a transaction on Tuesday, December 18th. The stock was sold at an average price of $1.73, for a total value of $25,950.00. Following the completion of the transaction, the insider now directly owns 493,062 shares of the company’s stock, valued at $852,997.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.60% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Athersys by 11.6% during the fourth quarter. BlackRock Inc. now owns 7,555,866 shares of the biopharmaceutical company’s stock valued at $10,881,000 after buying an additional 786,445 shares during the period. Alps Advisors Inc. boosted its stake in Athersys by 33.6% during the fourth quarter. Alps Advisors Inc. now owns 327,581 shares of the biopharmaceutical company’s stock valued at $472,000 after buying an additional 82,341 shares during the period. Allred Capital Management LLC bought a new stake in Athersys during the fourth quarter valued at $74,000. Rhumbline Advisers boosted its stake in Athersys by 47.7% during the fourth quarter. Rhumbline Advisers now owns 144,257 shares of the biopharmaceutical company’s stock valued at $208,000 after buying an additional 46,565 shares during the period. Finally, Vanguard Group Inc boosted its stake in Athersys by 2.4% during the third quarter. Vanguard Group Inc now owns 5,707,784 shares of the biopharmaceutical company’s stock valued at $11,986,000 after buying an additional 134,541 shares during the period. 19.68% of the stock is owned by hedge funds and other institutional investors.

About Athersys

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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