Athersys (ATHX) Worth Watching: Stock Gains 9.5% – Tale of the Tape

April 9, 2015 Technicals 0

Zacks

Athersys, Inc. (ATHX) was a big mover last session with its shares rising over 9% on the day. The upside was owing to the company’s announcement that Dr. David Hess will present the preliminary results from its Phase 2 clinical trial administering MultiStem for the treatment of ischemic stroke at the European Stroke Organization Conference (ESOC) 2015 on April 19 at Glasgow, Scotland. Hess, a stroke specialist, is the lead principal investigator in the study. This development led to far more shares changing hands yesterday than in a normal session. This breaks the recent trend of the company as the stock is now trading above the volatile price range of $2.79 to $2.92 since March 25.

This biotechnology company has seen 2 positive estimate revisions in the last 30 days. The Zacks Consensus Estimate has also moved higher over the same period. This implies solid trading potential for the company. So make sure to keep an eye on this stock going forward to see if yesterday’s rally can turn into more strength down the road.

Athersys currently has a Zacks Rank #2 (Buy) while its Earnings ESP is 0.00%.

Investors interested in the bio-med/gene industry may also consider Affymetrix Inc. (AFFX) which sports a Zacks Rank #1 (Strong Buy).

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