Zacks Investment Research cut shares of Athersys Inc. (NASDAQ:ATHX) from a buy rating to a hold rating in a report published on Tuesday morning.
Separately, Maxim Group reaffirmed a buy rating on shares of Athersys in a research report on Monday, September 12th.
Shares of Athersys (NASDAQ:ATHX) opened at 2.04 on Tuesday. Athersys has a 12-month low of $0.94 and a 12-month high of $2.90. The firm’s market cap is $173.36 million. The stock’s 50 day moving average price is $2.01 and its 200-day moving average price is $2.17.
Athersys (NASDAQ:ATHX) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. Athersys had a negative return on equity of 25.42% and a negative net margin of 18.89%. The company had revenue of $0.60 million for the quarter, compared to analyst estimates of $0.32 million. During the same period in the prior year, the firm earned ($0.05) earnings per share. Athersys’s revenue for the quarter was up 200.0% on a year-over-year basis. On average, analysts predict that Athersys will post ($0.20) earnings per share for the current fiscal year.
In related news, EVP John J. Harrington sold 15,000 shares of the company’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $1.96, for a total transaction of $29,400.00. Following the completion of the sale, the executive vice president now owns 619,639 shares in the company, valued at $1,214,492.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.90% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. BlackRock Institutional Trust Company N.A. increased its stake in shares of Athersys by 71.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 296,222 shares of the biopharmaceutical company’s stock valued at $666,000 after buying an additional 123,142 shares during the period. California State Teachers Retirement System bought a new stake in shares of Athersys during the second quarter valued at about $346,000. Alambic Investment Management L.P. increased its stake in shares of Athersys by 164.3% in the second quarter. Alambic Investment Management L.P. now owns 56,300 shares of the biopharmaceutical company’s stock valued at $122,000 after buying an additional 35,000 shares during the period. Renaissance Technologies LLC increased its stake in shares of Athersys by 204.0% in the first quarter. Renaissance Technologies LLC now owns 343,034 shares of the biopharmaceutical company’s stock valued at $772,000 after buying an additional 230,200 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Athersys by 103.7% in the second quarter. California Public Employees Retirement System now owns 174,000 shares of the biopharmaceutical company’s stock valued at $378,000 after buying an additional 88,600 shares during the period. Institutional investors and hedge funds own 17.76% 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.