Athersys Inc. (NASDAQ: ATHX) stock fell -30.23% on Friday to $0.30 against a previous-day closing price of $0.43. With 0.63 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.36 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $0.4758 whereas the lowest price it dropped to was $0.3000. The 52-week range on ATHX shows that it touched its highest point at $2.76 and its lowest point at $0.26 during that stretch. It currently has a 1-year price target of $5.50. Beta for the stock currently stands at -0.73.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ATHX was down-trending over the past week, with a drop of -33.63%, but this was down by -28.57% over a month. Three-month performance dropped to -67.74% while six-month performance fell -78.72%. The stock lost -86.96% in the past year, while it has lost -64.29% so far this year. A look at the trailing 12-month EPS for ATHX yields -3.03 with Next year EPS estimates of -0.75. For the next quarter, that number is -0.21. This implies an EPS growth rate of 37.40% for this year and 28.60% for next year.
Float and Shares Shorts:
At present, 22.50 million ATHX shares are outstanding with a float of 21.98 million shares on hand for trading. On Aug 30, 2023, short shares totaled 0.8 million, which was 2.98% higher than short shares on Jul 30, 2023. In addition to Mr. Daniel A. Camardo M.B.A. as the firm’s CEO, Sec., Principal Accounting Officer & Director, Ms. Z. Kasey Rosado serves as its Interim Chief Financial Officer.
Through their ownership of 11.31% of ATHX’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 4.83% of ATHX, in contrast to 2.48% held by mutual funds. Shares owned by individuals account for 14.51%. As the largest shareholder in ATHX with 8.64% of the stake, Armistice Capital LLC holds 1,943,000 shares worth 1,943,000. A second-largest stockholder of ATHX, Vahanian & Associates Financial P, holds 841,430 shares, controlling over 3.74% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ATHX, holding 449,912 shares or 2.00% stake. With a 1.62% stake in ATHX, the iShares Core S&P Total US Stock M is the largest stakeholder. A total of 363,673 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.21% of ATHX stock, is the second-largest Mutual Fund holder. It holds 272,713 shares valued at 0.13 million. Vanguard Total Stock Market ETF holds 1.20% of the stake in ATHX, owning 270,506 shares worth 0.13 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, ATHX reported revenue of $2.32M and operating income of -$24.26M. The EBITDA in the recently reported quarter was -$23.64M and diluted EPS was -$2.28.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ATHX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ATHX analysts setting a high price target of $5.50 and a low target of $5.50, the average target price over the next 12 months is $5.50. Based on these targets, ATHX could surge 1733.33% to reach the target high and rise by 1733.33% to reach the target low. Reaching the average price target will result in a growth of 1733.33% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded ATHX stock several times over the past three months with 0 Buys and 2 Sells. In these transactions, 0 shares were bought while 27,019 shares were sold. The number of buy transactions has increased to 7 while that of sell transactions has risen to 9 over the past year. The total number of shares bought during that period was 558,392 while 86,464 shares were sold.