Athersys Inc. [ATHX] is -71.77% lower this YTD. Is it still time to buy?


Athersys Inc. [NASDAQ: ATHX] slipped around -0.03 points on Friday, while shares priced at $0.25 at the close of the session, down -7.35%. The company report on June 21, 2022 that Athersys Announces Board of Directors Slate for 2022 Annual Meeting of Stockholders and Director Departures.

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Athersys, Inc. (Nasdaq: ATHX) today announced the Company’s slate of director candidates for its 2022 Annual Meeting of Stockholders being held on Thursday, July 28, 2022, at 8:30 a.m. ET. As previously announced, in connection with the Company’s cost-cutting and restructuring initiatives, the Board of Directors approved reducing its size from ten to five members on June 6, 2022, effective as of the Annual Meeting on July 28, 2022. In order to accelerate the implementation of this change, on June 16, 2022 the Board requested and received resignations from the following Directors: John J. Harrington, Hardy TS Kagimoto, Katherine Kalin, Lorin J. Randall and Baiju R. Shah.

The Board members’ decisions to depart were not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices. These Board members agreed that their departures now would align the Company’s resources with its current strategy and operations.

Athersys Inc. stock is now -71.77% down from its year-to-date (YTD) trading value. ATHX Stock saw the intraday high of $0.2744 and lowest of $0.2525 per share. The company’s 52-week high price is 1.81, which means current price is +41.56% above from all time high which was touched on 04/11/22.

Compared to the average trading volume of 6.53M shares, ATHX reached a trading volume of 26285003 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Athersys Inc. [ATHX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ATHX shares is $1.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ATHX stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Athersys Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 19, 2021. While these analysts kept the previous recommendation, BofA/Merrill raised their target price to Buy. The new note on the price target was released on June 25, 2020, representing the official price target for Athersys Inc. stock. Previously, the target price had yet another raise to $11, while Dawson James analysts kept a Buy rating on ATHX stock. On February 13, 2018, analysts decreased their price target for ATHX shares from 12 to 6.

The Average True Range (ATR) for Athersys Inc. is set at 0.07, with the Price to Sales ratio for ATHX stock in the period of the last 12 months amounting to 8.42.

How has ATHX stock performed recently?

Athersys Inc. [ATHX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.40. With this latest performance, ATHX shares gained by 27.02% in over the last four-week period, additionally sinking by -73.46% over the last 6 months – not to mention a drop of -83.13% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ATHX stock in for the last two-week period is set at 39.02, with the RSI for the last a single of trading hit 36.52, and the three-weeks RSI is set at 40.07 for Athersys Inc. [ATHX]. The present Moving Average for the last 50 days of trading for this stock 0.4315, while it was recorded at 0.2669 for the last single week of trading, and 0.8736 for the last 200 days.

Athersys Inc. [ATHX]: Deeper insight into the fundamentals

Athersys Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

Insider trade positions for Athersys Inc. [ATHX]

There are presently around $14 million, or 22.10% of ATHX stock, in the hands of institutional investors. The top three institutional holders of ATHX stocks are: BLACKROCK INC. with ownership of 13,249,464, which is approximately -4.904% of the company’s market cap and around 0.60% of the total institutional ownership; VANGUARD GROUP INC, holding 10,986,945 shares of the stock with an approximate value of $2.8 million in ATHX stocks shares; and VAHANIAN & ASSOCIATES FINANCIAL PLANNING INC., currently with $0.99 million in ATHX stock with ownership of nearly -24.422% of the company’s market capitalization.

44 institutional holders increased their position in Athersys Inc. [NASDAQ:ATHX] by around 6,101,602 shares. Additionally, 59 investors decreased positions by around 4,586,821 shares, while 46 investors held positions by with 45,322,905 shares. The mentioned changes placed institutional holdings at 56,011,328 shares, according to the latest SEC report filing. ATHX stock had 16 new institutional investments in for a total of 4,058,176 shares, while 23 institutional investors sold positions of 481,516 shares during the same period.