Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Shares Down 1.2% – What’s Next?

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

Analysts Set New Price Targets

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

Lineage Cell Therapeutics Stock Down 1.2%

The stock has a market cap of $247.42 million, a P/E ratio of -5.15 and a beta of 1.60. The company’s 50 day moving average price is $1.03 and its two-hundred day moving average price is $1.22.

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

Institutional Trading of Lineage Cell Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in Lineage Cell Therapeutics during the 2nd quarter valued at about $17,275,000. Defender Capital LLC. boosted its position in Lineage Cell Therapeutics by 0.8% during the 3rd quarter. Defender Capital LLC. now owns 6,648,899 shares of the company’s stock valued at $6,354,000 after acquiring an additional 50,000 shares in the last quarter. Raffles Associates LP bought a new stake in Lineage Cell Therapeutics during the 2nd quarter valued at $6,809,000. Fifth Third Bancorp bought a new stake in Lineage Cell Therapeutics during the 1st quarter valued at $7,268,000. Finally, Squarepoint Ops LLC increased its holdings in shares of Lineage Cell Therapeutics by 210.6% in the 2nd quarter. Squarepoint Ops LLC now owns 444,774 shares of the company’s stock valued at $583,000 after acquiring an additional 301,584 shares during the period. 62.47% of the stock is owned by hedge funds and other institutional investors.

Lineage Cell Therapeutics Company Profile

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.