Athersys (NASDAQ:ATHX) Shares Up 7%

Shares of Athersys, Inc. (NASDAQ:ATHX) shot up 7% during trading on Friday . The stock traded as high as $1.68 and last traded at $1.68. 2,551,719 shares were traded during trading, an increase of 280% from the average session volume of 671,769 shares. The stock had previously closed at $1.57.

Several brokerages have recently commented on ATHX. BidaskClub raised shares of Athersys from a “strong sell” rating to a “sell” rating in a research report on Friday, May 17th. Zacks Investment Research raised shares of Athersys from a “hold” rating to a “buy” rating and set a $1.75 price target on the stock in a research report on Tuesday, March 19th. Finally, Maxim Group reaffirmed a “buy” rating and set a $8.00 price target on shares of Athersys in a research report on Thursday, May 9th.

The stock has a fifty day moving average price of $1.73. The firm has a market capitalization of $251.62 million, a PE ratio of -9.33 and a beta of 0.34.

Athersys (NASDAQ:ATHX) last issued its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.09). Athersys had a negative net margin of 109.78% and a negative return on equity of 58.10%. The firm had revenue of $1.45 million for the quarter.

In other Athersys news, insider William Lehmann, Jr. sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $1.80, for a total value of $36,000.00. Following the transaction, the insider now owns 574,952 shares of the company’s stock, valued at $1,034,913.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.31% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Cedar Brook Financial Partners LLC raised its position in shares of Athersys by 5.1% in the first quarter. Cedar Brook Financial Partners LLC now owns 166,271 shares of the biopharmaceutical company’s stock valued at $249,000 after purchasing an additional 8,000 shares during the period. Alps Advisors Inc. raised its position in shares of Athersys by 4.5% in the first quarter. Alps Advisors Inc. now owns 342,370 shares of the biopharmaceutical company’s stock valued at $514,000 after purchasing an additional 14,789 shares during the period. SG Americas Securities LLC raised its position in shares of Athersys by 169.8% in the first quarter. SG Americas Securities LLC now owns 32,987 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 20,760 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Athersys by 62,382.1% in the first quarter. BNP Paribas Arbitrage SA now owns 24,368 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 24,329 shares during the period. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Athersys in the first quarter valued at about $38,000. Institutional investors own 19.60% of the company’s stock.

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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