Wall Street Analyst Downgrade Athersys Inc. [ATHX]. What else is Wall St. saying

Athersys Inc. [NASDAQ: ATHX] loss -25.63% or -0.04 points to close at $0.13 with a heavy trading volume of 31615961 shares. The company report on August 25, 2022 that Athersys Announces 1-for-25 Reverse Stock Split.


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Athersys, Inc. (Nasdaq: ATHX), a regenerative medicine company developing MultiStem® (invimestrocel) for critical care indications, announced today that it will be executing a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-25 after the close of trading on the Nasdaq Stock Market on Friday, August 26, 2022. Athersys common stock will begin trading on a split-adjusted basis when the market opens on Monday, August 29, 2022 under the existing trading symbol “ATHX” and a new CUSIP number. The reverse stock split was previously approved by Athersys stockholders at the annual meeting of stockholders held on July 28, 2022, with the final ratio determined by the Company’s Board of Directors.

When the reverse stock split is effective, every 25 shares of Athersys common stock issued and outstanding or held as treasury shares as of the effective date will be automatically combined into one share of common stock. Outstanding equity-based awards and other outstanding equity rights will be proportionately adjusted. No fractional shares will be issued as a result of the reverse stock split. Stockholders of record otherwise entitled to receive a fractional share as a result of the reverse stock split will receive a cash payment in lieu of such fractional shares.

It opened the trading session at $3.5875, the shares rose to $3.645 and dropped to $3.2125, the range by which the price of stock traded the whole day. The daily chart for ATHX points out that the company has recorded -86.03% loss over the past six months. However, it is still 23.53% higher than its most recent low trading price.

If we look at the average trading volume of 12.45M shares, ATHX reached to a volume of 31615961 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 $6.25 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 5.28.

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 -34.51. With this latest performance, ATHX shares dropped by -60.00% in over the last four-week period, additionally sinking by -86.03% over the last 6 months – not to mention a drop of -91.61% 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 28.92, with the RSI for the last a single of trading hit 19.11, and the three-weeks RSI is set at 34.37 for Athersys Inc. [ATHX]. The present Moving Average for the last 50 days of trading for this stock 0.2378, while it was recorded at 0.1693 for the last single week of trading, and 0.6296 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 $6 million, or 13.20% 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 0.50% of the total institutional ownership; VAHANIAN & ASSOCIATES FINANCIAL PLANNING INC., holding 5,384,257 shares of the stock with an approximate value of $0.7 million in ATHX stocks shares; and JPMORGAN CHASE & CO, currently with $0.41 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 61 institutional holders increased their position in Athersys Inc. [NASDAQ:ATHX] by around 11,615,168 shares. Additionally, 58 investors decreased positions by around 25,185,351 shares, while 32 investors held positions by with 5,548,919 shares. The mentioned changes placed institutional holdings at 42,349,438 shares, according to the latest SEC report filing. ATHX stock had 27 new institutional investments in for a total of 2,199,063 shares, while 31 institutional investors sold positions of 5,885,535 shares during the same period.

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