Asterias Biotherapeutics Inc (NYSEAMERICAN:AST) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 3,591,039 shares, a growth of 6.7% from the August 15th total of 3,365,104 shares. Based on an average daily volume of 117,847 shares, the days-to-cover ratio is presently 30.5 days. Currently, 10.9% of the shares of the stock are short sold.
AST stock traded up $0.05 during trading on Wednesday, hitting $1.40. The company had a trading volume of 124,655 shares, compared to its average volume of 208,609. Asterias Biotherapeutics has a fifty-two week low of $1.20 and a fifty-two week high of $3.74.
Several equities research analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Asterias Biotherapeutics in a report on Tuesday, June 19th. Zacks Investment Research downgraded shares of Asterias Biotherapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. B. Riley set a $6.00 price objective on shares of Asterias Biotherapeutics and gave the stock a “buy” rating in a report on Friday, August 3rd. Finally, Raymond James downgraded shares of Asterias Biotherapeutics from an “outperform” rating to a “market perform” rating in a report on Friday, August 10th.
A number of hedge funds have recently bought and sold shares of AST. Millennium Management LLC acquired a new stake in Asterias Biotherapeutics in the second quarter worth about $663,000. Paloma Partners Management Co bought a new stake in Asterias Biotherapeutics in the second quarter worth about $194,000. Renaissance Technologies LLC bought a new stake in Asterias Biotherapeutics in the second quarter worth about $142,000. LMR Partners LLP bought a new stake in Asterias Biotherapeutics in the second quarter worth about $110,000. Finally, Creative Planning raised its position in Asterias Biotherapeutics by 50.0% in the second quarter. Creative Planning now owns 180,313 shares of the biotechnology company’s stock worth $243,000 after acquiring an additional 60,100 shares in the last quarter.
About Asterias Biotherapeutics
Asterias Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing cell-based therapeutics to treat neurological conditions associated with demyelination, and cellular immunotherapies to treat cancer. Its clinical stage programs include AST-OPC1, an oligodendrocyte progenitor cell population derived from pluripotent stem cells that is in Phase I/IIa clinical trial for spinal cord injuries; AST-VAC2 is a non-patient-specific cancer immunotherapy derived from pluripotent stem cells for the treatment of non-small cell lung cancer; and AST-VAC1, a patient-specific cancer immunotherapy that has completed Phase II clinical trial for the treatment of acute myeloid leukemia.
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