SSgA Funds Management, Inc. recently announced the acquisition of new stake in Athersys Inc. (NASDAQ:ATHX). The institutional investor has increased its shareholding in the Healthcare company by 321.23% to 11.94 million shares with purchase of 9.1 million shares. This fresh investment now brings its stake to 6.08% valued currently at $30.56 million. In addition, BlackRock Fund Advisors raised its holdings by 2.77 million to 11.31 million shares. And The Vanguard Group, Inc. has lifted its position by 38.46% or 2.49 million shares – to 8.95 million shares.
With over 1.26 million Athersys Inc. (ATHX) shares trading Friday and a closing price of $2.13 on the day, the dollar volume was approximately $2.69 million. The shares have shown a negative weekly performance of -9.36% and its price on 08/28/20 lost nearly -1.84%. Currently, there are 191.32M common shares owned by the public and among those 178.35M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for ATHX have a consensus price objective of $7.00. The analysts have set the share’s price value over the next 12 months at a high of $11.00 and a low of $5.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Athersys Inc. stock is 1.60 for the next 12 months. But an upside of 80.64% will see the stock hit the forecast high price target while mean target price for the stock is $6.00.
Insiders at the company have transacted a total of 44 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 9,038,525 shares. Insider sales of the common stock occurred on 29 occasions, with total insider shares sold totaling 614,566 shares.
The top 3 mutual fund holders in Athersys Inc. are SPDR S&P Biotech ETF, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. SPDR S&P Biotech ETF owns 9.13 million shares of the company’s stock, all valued at over $23.37 million. The company sold 91476.0 shares recently to bring their total holdings to about 4.65% of the shares outstanding. iShares Russell 2000 ETF sold -0.17 million shares to bring its total holdings to over 3.61 million shares at a value of $9.24 million. iShares Russell 2000 ETF now owns shares totaling to 1.84% of the shares outstanding.
Shares of Athersys Inc. (NASDAQ: ATHX) opened at $2.17, unchanged from a prior closing price of $2.17. However, the script later closed the day at $2.13, down -1.84%. The company’s stock has a 5-day price change of -9.36% and -29.24% over the past three months. ATHX shares are trading 73.17% year to date (YTD), with the 12-month market performance up to 60.15% higher. It has a 12-month low price of $1.13 and touched a high of $4.38 over the same period. Currently, 1.26 million shares have been traded, compared to an average intraday trading volume of 3.75 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -12.53%, -18.40%, and 2.94% respectively.
Institutional ownership of Athersys Inc. (NASDAQ: ATHX) shares accounts for 28.80% of the company’s 191.32M shares outstanding. Mutual fund holders own 13.28%, while other institutional holders and individual stakeholders account for 16.84% and 11.65% respectively.
It has a market capitalization of $428.41M and a beta (3y monthly) value of -1.81. The earnings-per-share (ttm) stands at -$0.33. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.91% over the week and 6.32% over the month.
Analysts forecast that Athersys Inc. (ATHX) will achieve an EPS of -$0.09 for the current quarter, -$0.08 for the next quarter and -$0.39 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.1 while analysts give the company a high EPS estimate of -$0.06. Comparatively, EPS for the current quarter was -$0.08 a year ago. Earnings per share for the fiscal year are expected to decrease by -65.40%, and -8.30% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Athersys Inc. (ATHX) as a “Strong Buy” at a consensus score of 1.60. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ATHX, a number of firms have released research notes about the stock. BofA/Merrill stated their Buy rating for the stock in a research note on June 25, 2020, with the firm’s price target at $5. Dawson James coverage for the Athersys Inc. (ATHX) stock in a research note released on August 26, 2019 offered a Buy rating with a price target of $11. Maxim Group was of a view on February 13, 2018 that the stock is Buy, while Maxim Group gave the stock Buy rating on August 10, 2017, issuing a price target of $9- $12. Needham on their part issued Buy rating on February 07, 2017.