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

Separately, Maxim Group reissued a “buy” rating on shares of Athersys in a research note on Monday, June 27th.

Shares of Athersys (NASDAQ:ATHX) traded down 0.94% on Tuesday, reaching $2.10. The company’s stock had a trading volume of 365,754 shares. The stock’s market cap is $178.46 million. The company’s 50 day moving average is $2.00 and its 200-day moving average is $2.17. Athersys has a 1-year low of $0.94 and a 1-year high of $2.90.

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Athersys (NASDAQ:ATHX) last released its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.08) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.02. The company earned $0.60 million during the quarter, compared to analysts’ expectations of $0.32 million. Athersys had a negative return on equity of 25.42% and a negative net margin of 18.89%. The business’s revenue for the quarter was up 200.0% on a year-over-year basis. During the same period last year, the firm earned ($0.05) EPS. On average, equities analysts predict that Athersys will post ($0.20) earnings per share for the current fiscal year.

In other news, EVP John J. Harrington sold 15,000 shares of the firm’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $1.96, for a total value of $29,400.00. Following the transaction, the executive vice president now directly owns 619,639 shares in the company, valued at approximately $1,214,492.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.90% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nationwide Fund Advisors bought a new position in Athersys during the second quarter valued at about $104,000. Alambic Investment Management L.P. raised its position in 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 in the last quarter. A.R.T. Advisors LLC raised its position in Athersys by 2.5% in the second quarter. A.R.T. Advisors LLC now owns 69,953 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 1,715 shares in the last quarter. Rhumbline Advisers acquired a new position in Athersys during the second quarter valued at $161,000. Finally, NEXT Financial Group Inc raised its position in Athersys by 1.4% in the second quarter. NEXT Financial Group Inc now owns 92,750 shares of the biopharmaceutical company’s stock valued at $201,000 after buying an additional 1,250 shares in the last quarter. Institutional investors and hedge funds own 17.76% of the company’s stock.

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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