Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Shares of Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $1.02 and traded as high as $1.04. Lineage Cell Therapeutics shares last traded at $1.03, with a volume of 1,195,312 shares trading hands.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating on shares of Lineage Cell Therapeutics in a research note on Tuesday, July 14th. Four equities research analysts have rated the stock with a Buy rating. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $6.25.

Lineage Cell Therapeutics Price Performance

The business has a 50-day simple moving average of $1.02 and a 200-day simple moving average of $1.33.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). Lineage Cell Therapeutics had a negative return on equity of 73.06% and a negative net margin of 246.58%. The business had revenue of $1.07 million during the quarter, compared to the consensus estimate of $1.84 million. Equities research analysts expect that Lineage Cell Therapeutics, Inc. will post -0.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Defender Capital LLC. lifted 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. Squarepoint Ops LLC grew its stake in shares of Lineage Cell Therapeutics by 210.6% during the second quarter. Squarepoint Ops LLC now owns 444,774 shares of the company’s stock worth $583,000 after purchasing an additional 301,584 shares in the last quarter. Two Sigma Securities LLC grew its stake in shares of Lineage Cell Therapeutics by 85.4% during the second quarter. Two Sigma Securities LLC now owns 37,793 shares of the company’s stock worth $50,000 after purchasing an additional 17,403 shares in the last quarter. Flputnam Investment Management Co. purchased a new position in Lineage Cell Therapeutics in the second quarter valued at $399,000. Finally, Equitable Holdings Inc. purchased a new position in Lineage Cell Therapeutics in the second quarter valued at $39,000. Hedge funds and other institutional investors own 62.47% of the company’s stock.

About Lineage Cell Therapeutics

Lineage Cell Therapeutics, Inc is a biotechnology company focused on developing allogeneic cell therapies for unmet medical needs. The company uses its proprietary cell differentiation and manufacturing technologies to create specialized human cells intended to replace, repair or support damaged tissues.

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