Zacks Investment Research Downgrades Asterias Biotherapeutics (AST) to Hold

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Asterias Biotherapeutics (NYSEAMERICAN:AST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

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. “

Shares of NYSEAMERICAN:AST opened at $0.88 on Tuesday. Asterias Biotherapeutics has a 12 month low of $0.51 and a 12 month high of $2.30.

Institutional investors have recently modified their holdings of the business. Millennium Management LLC bought a new stake in shares of Asterias Biotherapeutics during the 2nd quarter valued at approximately $663,000. Creative Planning raised its holdings in Asterias Biotherapeutics by 11.0% during the fourth quarter. Creative Planning now owns 200,189 shares of the biotechnology company’s stock worth $124,000 after buying an additional 19,900 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Asterias Biotherapeutics by 78.0% in the third quarter. Renaissance Technologies LLC now owns 187,100 shares of the biotechnology company’s stock valued at $243,000 after purchasing an additional 82,000 shares during the last quarter.

About Asterias Biotherapeutics

Asterias Biotherapeutics, Inc, a clinical-stage biotechnology company, focuses on developing cell-based therapeutics to treat neurological conditions associated with demyelination, and cellular immunotherapies to treat cancer. Its clinical stage programs include AST-OPC1, an oligodendrocyte progenitor cell population derived from pluripotent stem cells that is in Phase I/IIa clinical trial for spinal cord injuries; AST-VAC2 is a non-patient-specific cancer immunotherapy derived from pluripotent stem cells for the treatment of non-small cell lung cancer; and AST-VAC1, a patient-specific cancer immunotherapy that has completed Phase II clinical trial for the treatment of acute myeloid leukemia.

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