Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) CEO Brian Culley Purchases 15,000 Shares

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) CEO Brian Culley purchased 15,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was acquired at an average cost of $1.62 per share, with a total value of $24,300.00. Following the transaction, the chief executive officer directly owned 255,516 shares in the company, valued at $413,935.92. This trade represents a 6.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Lineage Cell Therapeutics Trading Up 1.6%

NYSEAMERICAN:LCTX traded up $0.03 during midday trading on Friday, reaching $1.61. The company had a trading volume of 1,028,718 shares, compared to its average volume of 1,158,415. Lineage Cell Therapeutics, Inc. has a 12-month low of $0.37 and a 12-month high of $2.09. The firm has a market capitalization of $399.79 million, a price-to-earnings ratio of -5.73 and a beta of 1.74. The stock’s fifty day simple moving average is $1.73 and its 200-day simple moving average is $1.66.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) last issued its quarterly earnings results on Thursday, March 5th. The company reported $0.00 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.07. The company had revenue of $6.61 million for the quarter, compared to the consensus estimate of $1.96 million. Lineage Cell Therapeutics had a negative return on equity of 76.13% and a negative net margin of 436.47%. As a group, sell-side analysts expect that Lineage Cell Therapeutics, Inc. will post -0.12 EPS for the current year.

Wall Street Analyst Weigh In

LCTX has been the subject of several recent analyst reports. D. Boral Capital lifted their price objective on shares of Lineage Cell Therapeutics from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. HC Wainwright reaffirmed a “buy” rating on shares of Lineage Cell Therapeutics in a research report on Friday, March 6th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Lineage Cell Therapeutics presently has an average rating of “Buy” and a consensus price target of $5.00.

Institutional Trading of Lineage Cell Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in LCTX. SG Americas Securities LLC purchased a new stake in shares of Lineage Cell Therapeutics in the fourth quarter valued at about $25,000. Citizens Financial Group Inc. RI acquired a new stake in Lineage Cell Therapeutics in the third quarter valued at about $25,000. Red Crane Wealth Management LLC lifted its position in Lineage Cell Therapeutics by 3.1% in the third quarter. Red Crane Wealth Management LLC now owns 511,363 shares of the company’s stock valued at $864,000 after purchasing an additional 15,365 shares during the period. Kestra Advisory Services LLC boosted its holdings in Lineage Cell Therapeutics by 174.7% in the 4th quarter. Kestra Advisory Services LLC now owns 27,747 shares of the company’s stock valued at $46,000 after purchasing an additional 17,647 shares in the last quarter. Finally, Rhumbline Advisers increased its position in Lineage Cell Therapeutics by 9.9% during the 1st quarter. Rhumbline Advisers now owns 201,447 shares of the company’s stock worth $91,000 after purchasing an additional 18,092 shares during the period. Institutional investors and hedge funds own 62.47% of the company’s stock.

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.