Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Shares Up 4.9% – What’s Next?

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) shares rose 4.9% during trading on Friday . The company traded as high as $1.30 and last traded at $1.28. 22,535,403 shares changed hands during mid-day trading, an increase of 1,971% from the average daily volume of 1,088,316 shares. The stock had previously closed at $1.22.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Canaccord Genuity Group assumed coverage on Lineage Cell Therapeutics in a report on Tuesday, April 28th. They set a “buy” rating and a $9.00 price objective on the stock. B. Riley Financial increased their price target 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. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Lineage Cell Therapeutics in a research note on Tuesday, March 24th. Finally, D. Boral Capital reissued a “buy” rating and issued a $3.00 price objective on shares of Lineage Cell Therapeutics in a report on Monday, May 4th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $6.25.

Lineage Cell Therapeutics Stock Up 4.9%

The stock has a market capitalization of $319.10 million, a P/E ratio of -4.41 and a beta of 1.53. The company has a 50 day moving average of $1.34 and a 200-day moving average of $1.56.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) last released its earnings results on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The business had revenue of $1.73 million for the quarter, compared to the consensus estimate of $3.60 million. Lineage Cell Therapeutics had a negative net margin of 434.44% and a negative return on equity of 89.36%. Equities analysts forecast that Lineage Cell Therapeutics, Inc. will post -0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Lineage Cell Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Defender Capital LLC. bought a new position in Lineage Cell Therapeutics in the fourth quarter worth about $11,405,000. Fifth Third Bancorp bought a new position in shares of Lineage Cell Therapeutics during the first quarter valued at approximately $7,268,000. Marshall Wace LLP bought a new position in shares of Lineage Cell Therapeutics during the fourth quarter valued at approximately $2,275,000. Goldman Sachs Group Inc. raised its position in shares of Lineage Cell Therapeutics by 894.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,438,746 shares of the company’s stock worth $2,403,000 after purchasing an additional 1,294,070 shares during the period. Finally, Jane Street Group LLC raised its position in shares of Lineage Cell Therapeutics by 494.7% during the 4th quarter. Jane Street Group LLC now owns 1,004,794 shares of the company’s stock worth $1,678,000 after purchasing an additional 835,831 shares during the period. Institutional investors and hedge funds own 62.47% of the company’s stock.

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.