Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Share Price Breaks Above 50 Day Moving Average – What’s Next?

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) shares crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $1.01 and traded as high as $1.03. Lineage Cell Therapeutics shares last traded at $1.02, with a volume of 1,031,659 shares traded.

Analyst Ratings Changes

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

Lineage Cell Therapeutics Price Performance

The business has a 50 day moving average of $1.01 and a 200 day moving average of $1.31. The firm has a market capitalization of $257.97 million, a price-to-earnings ratio of -5.37 and a beta of 1.68.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Lineage Cell Therapeutics in the 2nd quarter worth approximately $17,275,000. Fifth Third Bancorp purchased a new stake in shares of Lineage Cell Therapeutics during the first quarter worth about $7,268,000. Raffles Associates LP acquired a new stake in Lineage Cell Therapeutics in the second quarter valued at $6,809,000. Defender Capital LLC. raised its stake in Lineage Cell Therapeutics by 0.8% in the 3rd quarter. Defender Capital LLC. now owns 6,648,899 shares of the company’s stock valued at $6,354,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Sei Investments Co. increased its position in Lineage Cell Therapeutics by 56.8% in the 1st quarter. Sei Investments Co. now owns 422,274 shares of the company’s stock valued at $667,000 after acquiring an additional 152,963 shares during the period. 62.47% of the stock is owned by institutional investors and hedge funds.

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.