Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX – Get Free Report)’s share price dropped 1.7% during mid-day trading on Friday . The stock traded as low as $1.19 and last traded at $1.19. Approximately 980,573 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 1,148,093 shares. The stock had previously closed at $1.21.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Canaccord Genuity Group assumed coverage on Lineage Cell Therapeutics in a research report on Tuesday, April 28th. They issued a “buy” rating and a $9.00 target price for the company. D. Boral Capital reissued a “buy” rating and issued a $3.00 target price on shares of Lineage Cell Therapeutics in a research report on Monday, May 4th. HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Lineage Cell Therapeutics in a research report on Tuesday, March 24th. Finally, B. Riley Financial upped their target price on Lineage Cell Therapeutics from $3.00 to $4.00 and gave the company a “buy” rating in a research report on Wednesday, March 25th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Lineage Cell Therapeutics has a consensus rating of “Buy” and a consensus target price of $6.25.
Read Our Latest Report on Lineage Cell Therapeutics
Lineage Cell Therapeutics Trading Down 1.7%
Lineage Cell Therapeutics (NYSEAMERICAN:LCTX – Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The company had revenue of $1.73 million for the quarter, compared to analysts’ expectations of $3.60 million. Lineage Cell Therapeutics had a negative net margin of 434.44% and a negative return on equity of 89.36%. On average, equities research analysts predict that Lineage Cell Therapeutics, Inc. will post -0.07 EPS for the current year.
Hedge Funds Weigh In On Lineage Cell Therapeutics
A number of large investors have recently modified their holdings of LCTX. SG Americas Securities LLC purchased a new position in Lineage Cell Therapeutics in the fourth quarter worth $25,000. Define Financial LLC purchased a new position in Lineage Cell Therapeutics in the fourth quarter worth $33,000. DLD Asset Management LP purchased a new position in Lineage Cell Therapeutics in the fourth quarter worth $33,000. Kestra Advisory Services LLC raised its position in Lineage Cell Therapeutics by 174.7% in the fourth quarter. Kestra Advisory Services LLC now owns 27,747 shares of the company’s stock worth $46,000 after acquiring an additional 17,647 shares in the last quarter. Finally, Equitable Holdings Inc. purchased a new position in Lineage Cell Therapeutics in the 3rd quarter valued at approximately $51,000. 62.47% of the stock is owned by hedge funds and other institutional investors.
About Lineage Cell Therapeutics
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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