BioTime, Inc. (BTX) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of BioTime, Inc. (NYSEAMERICAN:BTX) from a hold rating to a buy rating in a report issued on Wednesday. The brokerage currently has $2.75 price objective on the biotechnology company’s stock.
According to Zacks, “BioTime, Inc. is a clinical-stage biotechnology company focused on developing and commercializing novel therapies in the field of regenerative medicine. The foundation of its core therapeutic technology platform is pluripotent cells that are capable of becoming any of the cell types in the human body. BioTime’s research and other activities have resulted, over time, in the creation of other subsidiaries that address other non-therapeutic market opportunities such as cancer diagnostics, drug development and cell research products, and mobile health software applications. “
Separately, BidaskClub lowered BioTime from a sell rating to a strong sell rating in a research note on Monday, July 24th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $5.08.
BioTime (BTX) traded up $0.11 during trading hours on Wednesday, reaching $2.49. The company’s stock had a trading volume of 551,500 shares, compared to its average volume of 354,697. BioTime has a 1 year low of $2.19 and a 1 year high of $3.97.
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In other BioTime news, Director Broadwood Partners, L.P. acquired 2,692,307 shares of the business’s stock in a transaction dated Friday, October 13th. The stock was bought at an average cost of $2.60 per share, with a total value of $6,999,998.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders acquired 2,716,203 shares of company stock valued at $7,061,218.
A number of large investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC lifted its holdings in BioTime by 95.6% during the 3rd quarter. Jane Street Group LLC now owns 44,548 shares of the biotechnology company’s stock worth $127,000 after purchasing an additional 21,778 shares during the last quarter. Broadwood Capital Inc. lifted its holdings in BioTime by 0.6% during the 3rd quarter. Broadwood Capital Inc. now owns 27,279,254 shares of the biotechnology company’s stock worth $77,473,000 after purchasing an additional 160,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in BioTime by 29.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 156,721 shares of the biotechnology company’s stock worth $445,000 after purchasing an additional 35,970 shares during the last quarter. Family Management Corp lifted its holdings in BioTime by 29.9% during the 3rd quarter. Family Management Corp now owns 182,350 shares of the biotechnology company’s stock worth $518,000 after purchasing an additional 41,979 shares during the last quarter. Finally, IndexIQ Advisors LLC lifted its holdings in BioTime by 83.1% during the 3rd quarter. IndexIQ Advisors LLC now owns 251,227 shares of the biotechnology company’s stock worth $713,000 after purchasing an additional 114,003 shares during the last quarter.
BioTime, Inc is a clinical-stage biotechnology company focused on developing and commercializing products addressing degenerative diseases. Its clinical programs are based on two platform technologies: pluripotent stem cells and cell/drug delivery platform technologies. The foundation of its cell delivery platform is its HyStem cell and drug delivery matrix technology.
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