The stock has soared by more than 13% in the past month and has also performed above its 20-day standard moving average. Athersys dipped to $1.90 a share on Dec. 12, 2013, but has climbed steadily since then. The stock rose to as high as $3.20 on Monday.
The company is conducting a Phase II study to discern the safety and effectiveness of MultiStem, a stem cell product for adults who have suffered moderate to moderately severe ischemic strokes. The American Heart Association notes that 87% of all strokes are ischemic, and these strokes are caused by blood clots in arteries in the brain. The Athersys study is double-blind and placebo-controlled.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts