Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Stock Jumps 8.7% – What’s Next?

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) shares were up 8.7% during trading on Friday. The stock traded as high as $1.04 and last traded at $1.03. 2,480,587 shares traded hands during mid-day trading, an increase of 101% from the average session volume of 1,231,612 shares. The stock had previously closed at $0.9478.

Wall Street Analyst Weigh In

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

Lineage Cell Therapeutics Trading Up 8.7%

The stock’s 50-day moving average price is $1.08 and its 200-day moving average price is $1.29. The company has a market capitalization of $260.50 million, a P/E ratio of -5.42 and a beta of 1.54.

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 business had revenue of $1.07 million during the quarter, compared to the consensus estimate of $1.84 million. Lineage Cell Therapeutics had a negative net margin of 246.58% and a negative return on equity of 73.06%. Sell-side analysts expect that Lineage Cell Therapeutics, Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of Lineage Cell Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC boosted its position in Lineage Cell Therapeutics by 210.6% during the 2nd quarter. Squarepoint Ops LLC now owns 444,774 shares of the company’s stock valued at $583,000 after purchasing an additional 301,584 shares during the period. Two Sigma Securities LLC grew its stake in Lineage Cell Therapeutics by 85.4% during the 2nd quarter. Two Sigma Securities LLC now owns 37,793 shares of the company’s stock worth $50,000 after buying an additional 17,403 shares during the last quarter. Flputnam Investment Management Co. acquired a new stake in Lineage Cell Therapeutics in the second quarter worth $399,000. Equitable Holdings Inc. acquired a new stake in Lineage Cell Therapeutics in the second quarter worth $39,000. Finally, Raffles Associates LP bought a new stake in Lineage Cell Therapeutics in the second quarter valued at $6,809,000. 62.47% of the stock is currently 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 intended to address diseases and conditions with significant unmet medical needs. The company uses its cell differentiation and manufacturing platforms to produce specialized human cells designed to replace, support or repair damaged tissue.

Its lead program, OpRegen, is an investigational retinal pigment epithelial cell therapy being developed for geographic atrophy associated with dry age-related macular degeneration.