Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Stock Falls 1.2% – Here’s Why

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX – Get Free Report) shares fell 1.2% on Friday. The company traded as low as $0.96 and last traded at $0.9783. Approximately 1,308,653 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 1,738,655 shares. The stock had previously closed at $0.9903.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating on shares of Lineage Cell Therapeutics in a research report on Tuesday, July 14th. Four equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Lineage Cell Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $6.25.

View Our Latest Report on LCTX

Lineage Cell Therapeutics Stock Performance

The firm has a market cap of $247.42 million, a price-to-earnings ratio of -5.15 and a beta of 1.60. The business has a fifty day moving average of $1.03 and a two-hundred day moving average of $1.22.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $1.07 million during the quarter, compared to the consensus estimate of $1.84 million. Lineage Cell Therapeutics had a negative return on equity of 73.06% and a negative net margin of 246.58%. On average, equities research analysts forecast that Lineage Cell Therapeutics, Inc. will post -0.07 earnings per share for the current year.

Institutional Investors Weigh In On Lineage Cell Therapeutics

A number of large investors have recently added to or reduced their stakes in LCTX. BlackRock Inc. purchased a new stake in shares of Lineage Cell Therapeutics in the second quarter valued at about $17,275,000. Fifth Third Bancorp purchased a new position in shares of Lineage Cell Therapeutics during the 1st quarter worth approximately $7,268,000. Raffles Associates LP purchased a new position in shares of Lineage Cell Therapeutics during the 2nd quarter worth approximately $6,809,000. Defender Capital LLC. raised its position in shares of Lineage Cell Therapeutics by 0.8% during the 3rd quarter. Defender Capital LLC. now owns 6,648,899 shares of the company’s stock worth $6,354,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Lineage Cell Therapeutics by 56.8% during the 1st quarter. Sei Investments Co. now owns 422,274 shares of the company’s stock worth $667,000 after purchasing an additional 152,963 shares during the last quarter. 62.47% of the stock is owned by institutional investors and hedge funds.

Lineage Cell Therapeutics Company Profile

(Get Free Report)

Lineage Cell Therapeutics, Inc is a clinical-stage biotechnology company focused on developing allogeneic cell therapies for diseases with significant unmet medical needs. The company uses its cell biology and manufacturing platforms to create specialized cells intended to replace, support or repair damaged tissues.

Lineage’s lead program, OpRegen, is an investigational retinal pigment epithelium cell therapy being developed for geographic atrophy associated with dry age-related macular degeneration.

Further Reading

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