Athersys (ATHX) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 6,809,551 to 6,560,047 shares, with 20 days to go before the expiry. The short open interest has decreased by -3.7%, amounting to a reduction of -249,504 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 8.9% of the float of the company. The average daily volume of the stock is 332,273 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Athersys (NASDAQ:ATHX): The stock opened at $1.98 on Wednesday but the bulls could not build on the opening and the stock topped out at $2.00 for the day. The stock traded down to $1.92 during the day, due to lack of any buying support eventually closed down at $1.94 with a loss of -2.02% for the day. The stock had closed at $1.98 on the previous day. The total traded volume was 187,596 shares.
In a related news, Lehmann William Jr, officer (President and COO) of Athersys, Inc / New, unloaded 25,000 shares at an average price of $2.17 on June 20, 2016. The total amount of the transaction was worth $54,250, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Athersys Inc. is an international biotechnology company that is focused primarily in the field of regenerative medicine. The Companys MultiStem cell therapy is being evaluated in multiple clinical trials. Its current clinical development programs are focused on treating inflammatory and immune disorders, neurological conditions, cardiovascular disease and other conditions. It is also identifying and developing small molecule compounds with applications in indications, such as obesity, related metabolic conditions and neurological conditions. It is engaged in the preparation stages for clinical studies in other targeted areas, including the treatment of ARDS. Its current programs include Ischemic Stroke, Acute Myocardial Infarction, Acute Respiratory Distress Syndrome, Hematopoietic Stem Cell Transplant/GvHD and Inflammatory Bowel Disease. In addition to the programs, it is also conducting or supporting clinical activity in other areas, such as solid organ transplant.