Shares of Aastrom Biosciences Fall Below Previous 52-Week Low
Shares of Aastrom Biosciences (NASDAQ:ASTM) traded today at $0.45, breaking its 52-week low. Approximately 54,000 shares have changed hands today, as compared to an average 30-day volume of 171,000 shares.
Aastrom Biosciences has overhead space with shares priced $0.48, or 60.8% below the average consensus analyst price target of $1.23. The stock should run into initial resistance at its 50-day moving average (MA) of $0.59 and subsequent resistance at its 200-day MA of $1.16.
Aastrom Biosciences, Inc. develops autologous stem/progenitor cell products for the repair/regeneration of tissues based on Tissue Repair Cell (TRC) adult stem cell technology. The Company's products contain bone marrow stem and progenitor cells that are produced from cells originating from the patient.
Aastrom Biosciences share prices have moved between a 52-week high of $2.20 and the current low of $0.45 and are currently at $0.48 per share. Over the last five market days, the 200-day moving average (MA) has gone down 2.4% while the 50-day MA has declined 3.7%.
SmarTrend recommended that its subscribers protect gains by selling shares of Aastrom Biosciences on August 6th, 2012 by issuing a Downtrend alert when the shares were trading at $1.88. Since that call, shares of Aastrom Biosciences have fallen 75.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: 52 week high/lows aastrom biosciences