Athersys Inc. [ATHX] is -72.21% lower this YTD. Is it still time to buy?

Athersys Inc. [NASDAQ: ATHX] loss -1.80% on the last trading session, reaching $0.25 price per share at the time. The company report on August 15, 2022 that Athersys, Inc. Announces $12 Million Registered Direct Offering.


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Athersys, Inc. (Nasdaq: ATHX) today announced that it has entered into a definitive agreement with a single healthcare-focused U.S. institutional investor for the purchase and sale of 48,000,000 shares of the Company’s common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to 48,000,000 shares of common stock at a purchase price per share (and accompanying warrant) of $0.25 in a registered direct offering. The warrants will have an exercise price of $0.2554 per share, will be initially exercisable beginning six months following the date of issuance and will expire five years from the initial exercise date.

The closing of the registered direct offering is expected to occur on or about August 17, 2022, subject to the satisfaction of customary closing conditions. The gross proceeds from the offering are expected to be approximately $12 million. The Company intends to use the net proceeds from the offering for general corporate purposes.

Athersys Inc. represents 259.57 million in outstanding shares, while the company has a total market value of $73.08 million with the latest information. ATHX stock price has been found in the range of $0.2422 to $0.2595.

If compared to the average trading volume of 12.93M shares, ATHX reached a trading volume of 7372231 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $1.62 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 3.00. 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 0.03, with the Price to Sales ratio for ATHX stock in the period of the last 12 months amounting to 8.70.

Trading performance analysis for ATHX stock

Athersys Inc. [ATHX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.40. With this latest performance, ATHX shares gained by 22.94% in over the last four-week period, additionally sinking by -72.78% over the last 6 months – not to mention a drop of -84.61% 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 48.46, with the RSI for the last a single of trading hit 47.54, and the three-weeks RSI is set at 47.43 for Athersys Inc. [ATHX]. The present Moving Average for the last 50 days of trading for this stock 0.2649, while it was recorded at 0.2697 for the last single week of trading, and 0.6788 for the last 200 days.

Athersys Inc. [ATHX]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Athersys Inc. [ATHX] shares currently have an operating margin of -1569.79 and a Gross Margin at +78.93. Athersys Inc.’s Net Margin is presently recorded at -1576.99.

Return on Equity for this stock declined to -364.35, with Return on Assets sitting at -145.05.

Athersys Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.

An analysis of insider ownership at Athersys Inc. [ATHX]

There are presently around $11 million, or 21.80% of ATHX stock, in the hands of institutional investors. The top three institutional holders of ATHX stocks are: VANGUARD GROUP INC with ownership of 9,946,969, which is approximately -9.466% of the company’s market cap and around 0.60% of the total institutional ownership; VAHANIAN & ASSOCIATES FINANCIAL PLANNING INC., holding 5,384,257 shares of the stock with an approximate value of $1.35 million in ATHX stocks shares; and JPMORGAN CHASE & CO, currently with $0.79 million in ATHX stock with ownership of nearly 37.559% of the company’s market capitalization.

Positions in Athersys Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 62 institutional holders increased their position in Athersys Inc. [NASDAQ:ATHX] by around 11,462,560 shares. Additionally, 58 investors decreased positions by around 25,329,992 shares, while 32 investors held positions by with 5,397,492 shares. The mentioned changes placed institutional holdings at 42,190,044 shares, according to the latest SEC report filing. ATHX stock had 28 new institutional investments in for a total of 2,201,143 shares, while 32 institutional investors sold positions of 5,934,415 shares during the same period.

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