Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Trading 4.9% Higher – Still a Buy?

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTXGet Free Report) shot up 4.9% on Friday . The stock traded as high as $1.30 and last traded at $1.28. Approximately 22,535,403 shares changed hands during trading, an increase of 1,971% from the average session volume of 1,088,316 shares. The stock had previously closed at $1.22.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Lineage Cell Therapeutics in a research note on Tuesday, March 24th. B. Riley Financial increased their price objective on shares of Lineage Cell Therapeutics from $3.00 to $4.00 and gave the stock a “buy” rating in a research report on Wednesday, March 25th. Canaccord Genuity Group assumed coverage on shares of Lineage Cell Therapeutics in a research note on Tuesday, April 28th. They issued a “buy” rating and a $9.00 price objective for the company. Finally, D. Boral Capital restated a “buy” rating and set a $3.00 target price on shares of Lineage Cell Therapeutics in a research report on Monday, May 4th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, Lineage Cell Therapeutics presently has an average rating of “Buy” and an average price target of $6.25.

Read Our Latest Report on LCTX

Lineage Cell Therapeutics Price Performance

The firm has a market capitalization of $319.10 million, a P/E ratio of -4.41 and a beta of 1.53. The firm has a 50-day moving average price of $1.34 and a two-hundred day moving average price of $1.56.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTXGet Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Lineage Cell Therapeutics had a negative return on equity of 89.36% and a negative net margin of 434.44%.The company had revenue of $1.73 million during the quarter, compared to analysts’ expectations of $3.60 million. Sell-side analysts predict that Lineage Cell Therapeutics, Inc. will post -0.07 earnings per share for the current fiscal year.

Institutional Trading of Lineage Cell Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Defender Capital LLC. bought a new position in Lineage Cell Therapeutics in the fourth quarter worth approximately $11,405,000. WINTON GROUP Ltd bought a new position in shares of Lineage Cell Therapeutics during the 2nd quarter worth $69,000. Jain Global LLC grew its position in shares of Lineage Cell Therapeutics by 202.3% during the 4th quarter. Jain Global LLC now owns 38,851 shares of the company’s stock worth $65,000 after buying an additional 26,000 shares in the last quarter. Raymond James Financial Inc. increased its stake in shares of Lineage Cell Therapeutics by 136.2% during the second quarter. Raymond James Financial Inc. now owns 69,380 shares of the company’s stock valued at $63,000 after buying an additional 40,009 shares during the period. Finally, Kestra Advisory Services LLC raised its holdings in shares of Lineage Cell Therapeutics by 174.7% in the fourth quarter. Kestra Advisory Services LLC now owns 27,747 shares of the company’s stock valued at $46,000 after acquiring an additional 17,647 shares in the last quarter. Institutional investors own 62.47% of the company’s stock.

Lineage Cell Therapeutics Company Profile

(Get Free Report)

Lineage Cell Therapeutics is a clinical-stage biotechnology company developing novel, allogeneic cell therapies built on pluripotent stem cell platforms. The company focuses on three primary therapeutic areas—retinal disease, neural repair and immune-effector cell oncology—leveraging its proprietary manufacturing processes to create off-the-shelf cell therapy candidates designed for broad patient populations.

Its lead candidate, OpRegen, comprises retinal pigment epithelium cells intended to slow or reverse vision loss in patients with geographic atrophy secondary to age-related macular degeneration.

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