StockNews.com Begins Coverage on Athersys (NASDAQ:ATHX)

Equities research analysts at StockNews.com assumed coverage on shares of Athersys (NASDAQ:ATHXGet Rating) in a research note issued on Friday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Separately, Bank of America lowered shares of Athersys from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $1.00 to $0.25 in a report on Monday, May 23rd.

NASDAQ ATHX opened at $0.28 on Friday. The stock has a market capitalization of $69.29 million, a PE ratio of -0.79 and a beta of -1.25. Athersys has a 1 year low of $0.18 and a 1 year high of $1.81. The business’s 50-day moving average is $0.43 and its 200 day moving average is $0.70.

Athersys (NASDAQ:ATHXGet Rating) last issued its quarterly earnings data on Friday, May 6th. The biopharmaceutical company reported ($0.09) EPS for the quarter. The business had revenue of $2.91 million for the quarter. As a group, equities analysts anticipate that Athersys will post -0.27 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in ATHX. Vahanian & Associates Financial Planning Inc. purchased a new position in shares of Athersys during the fourth quarter valued at approximately $4,624,000. Graypoint LLC purchased a new position in shares of Athersys during the first quarter valued at approximately $1,282,000. Vanguard Group Inc. lifted its holdings in shares of Athersys by 9.0% during the first quarter. Vanguard Group Inc. now owns 10,986,945 shares of the biopharmaceutical company’s stock valued at $6,652,000 after purchasing an additional 910,501 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Athersys during the first quarter valued at approximately $230,000. Finally, Atria Wealth Solutions Inc. purchased a new position in Athersys in the 1st quarter worth approximately $195,000. Hedge funds and other institutional investors own 22.39% of the company’s stock.

About Athersys (Get Rating)

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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