Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) issued its quarterly earnings data on Thursday. The company reported $0.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.07, FiscalAI reports. Lineage Cell Therapeutics had a negative net margin of 625.53% and a negative return on equity of 72.02%. The firm had revenue of $6.61 million during the quarter, compared to the consensus estimate of $1.96 million.

Lineage Cell Therapeutics Price Performance

Lineage Cell Therapeutics stock traded down $0.11 during mid-day trading on Thursday, reaching $1.84. The company had a trading volume of 1,445,406 shares, compared to its average volume of 1,110,112. The stock’s 50-day simple moving average is $1.71 and its 200-day simple moving average is $1.64. Lineage Cell Therapeutics has a 1 year low of $0.37 and a 1 year high of $2.09. The company has a market capitalization of $423.81 million, a P/E ratio of -6.34 and a beta of 1.74.

Wall Street Analyst Weigh In

A number of research firms have commented on LCTX. D. Boral Capital reissued a “buy” rating and set a $2.00 price target on shares of Lineage Cell Therapeutics in a report on Monday, February 9th. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Lineage Cell Therapeutics in a report on Monday, November 24th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $4.67.

Institutional Investors Weigh In On Lineage Cell Therapeutics

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Lineage Cell Therapeutics by 6.2% in the third quarter. Vanguard Group Inc. now owns 9,006,930 shares of the company’s stock worth $15,222,000 after acquiring an additional 524,057 shares during the last quarter. Millennium Management LLC increased its position in Lineage Cell Therapeutics by 3.1% during the 3rd quarter. Millennium Management LLC now owns 2,680,003 shares of the company’s stock worth $4,529,000 after purchasing an additional 79,426 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Lineage Cell Therapeutics by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,461,193 shares of the company’s stock valued at $4,112,000 after buying an additional 41,427 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Lineage Cell Therapeutics by 26.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,404,800 shares of the company’s stock worth $4,016,000 after purchasing an additional 499,167 shares during the last quarter. Finally, Dauntless Investment Group LLC grew its holdings in Lineage Cell Therapeutics by 33.8% in the 3rd quarter. Dauntless Investment Group LLC now owns 1,614,100 shares of the company’s stock valued at $2,728,000 after buying an additional 408,170 shares during the period. 62.47% of the stock is owned by institutional investors and hedge funds.

About Lineage Cell Therapeutics

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.