Zacks Investment Research Downgrades Asterias Biotherapeutics Inc (AST) to Hold

Zacks Investment Research cut shares of Asterias Biotherapeutics Inc (NYSE:AST) from a buy rating to a hold rating in a research note released on Tuesday, October 17th.

According to Zacks, “Asterias Biotherapeutics, Inc. is a biotechnology company. It is focused on the field of regenerative medicine. The Company’s technologies center on stem cells capable of becoming all of the cell types in the human body, a property called pluripotency. It develops therapies based on pluripotent stem cells to treat diseases or injuries in a variety of medical fields, with an initial focus on the therapeutic areas of neurology and oncology. Asterias Biotherapeutics, Inc. is based in Menlo Park, California. “

Separately, HC Wainwright set a $12.00 price objective on shares of Asterias Biotherapeutics and gave the company a buy rating in a report on Wednesday, August 16th.

Asterias Biotherapeutics (NYSE:AST) traded up $0.20 during trading on Tuesday, reaching $2.55. 108,840 shares of the company were exchanged, compared to its average volume of 229,483. Asterias Biotherapeutics has a 52-week low of $2.25 and a 52-week high of $5.80.

Asterias Biotherapeutics (NYSE:AST) last posted its quarterly earnings results on Monday, August 14th. The biotechnology company reported ($0.18) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.18). The firm had revenue of $0.32 million during the quarter, compared to the consensus estimate of $1.25 million. Asterias Biotherapeutics had a negative net margin of 2,762.03% and a negative return on equity of 86.25%.

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Several institutional investors and hedge funds have recently made changes to their positions in AST. State Street Corp grew its holdings in shares of Asterias Biotherapeutics by 24.1% during the second quarter. State Street Corp now owns 328,717 shares of the biotechnology company’s stock valued at $1,169,000 after buying an additional 63,773 shares during the last quarter. Teachers Advisors LLC lifted its position in Asterias Biotherapeutics by 13.1% during the second quarter. Teachers Advisors LLC now owns 58,028 shares of the biotechnology company’s stock valued at $206,000 after purchasing an additional 6,714 shares during the period. Family Management Corp lifted its position in Asterias Biotherapeutics by 15.6% during the second quarter. Family Management Corp now owns 47,424 shares of the biotechnology company’s stock valued at $168,000 after purchasing an additional 6,416 shares during the period. Finally, California State Teachers Retirement System lifted its position in Asterias Biotherapeutics by 4.6% during the second quarter. California State Teachers Retirement System now owns 47,764 shares of the biotechnology company’s stock valued at $170,000 after purchasing an additional 2,100 shares during the period.

About Asterias Biotherapeutics

Asterias Biotherapeutics, Inc is a biotechnology company. The Company is engaged in developing and commercializing therapies in the fields of cell therapy and regenerative medicine. The Company has over two technology platforms. The first is an immunotherapy platform to teach cancer patients’ immune systems to attack their tumors.

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