Fifth Third Bancorp Takes $7.27 Million Position in Lineage Cell Therapeutics, Inc. $LCTX

Fifth Third Bancorp purchased a new position in Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,600,000 shares of the company’s stock, valued at approximately $7,268,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in Lineage Cell Therapeutics during the 4th quarter valued at $25,000. Jump Financial LLC bought a new stake in shares of Lineage Cell Therapeutics during the second quarter worth $28,000. DLD Asset Management LP bought a new stake in shares of Lineage Cell Therapeutics during the fourth quarter worth $33,000. Define Financial LLC purchased a new stake in shares of Lineage Cell Therapeutics during the fourth quarter valued at $33,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Lineage Cell Therapeutics during the second quarter valued at $35,000. 62.47% of the stock is currently owned by hedge funds and other institutional investors.

Lineage Cell Therapeutics Trading Down 4.1%

Shares of Lineage Cell Therapeutics stock opened at $1.17 on Friday. The stock’s fifty day moving average price is $1.27 and its 200-day moving average price is $1.51. The firm has a market cap of $291.68 million, a P/E ratio of -4.03 and a beta of 1.51. Lineage Cell Therapeutics, Inc. has a 12 month low of $0.93 and a 12 month high of $2.09.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.73 million during the quarter, compared to analysts’ expectations of $3.60 million. Analysts forecast that Lineage Cell Therapeutics, Inc. will post -0.07 earnings per share for the current year.

Wall Street Analyst Weigh In

LCTX has been the topic of several recent analyst reports. D. Boral Capital reaffirmed a “buy” rating and issued a $3.00 price target on shares of Lineage Cell Therapeutics in a research note on Monday, May 4th. HC Wainwright restated a “buy” rating on shares of Lineage Cell Therapeutics in a research note on Tuesday. B. Riley Financial raised their target price 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. Finally, Canaccord Genuity Group assumed coverage on shares of Lineage Cell Therapeutics in a research note on Tuesday, April 28th. They set a “buy” rating and a $9.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Lineage Cell Therapeutics currently has an average rating of “Buy” and an average price target of $6.25.

Lineage Cell Therapeutics Company Profile

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.