Craig Hallum Begins Coverage on Lineage Cell Therapeutics (NYSEAMERICAN:LCTX)

Craig Hallum began coverage on shares of Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) in a research report report published on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating and a $4.00 price objective on the stock.

Separately, HC Wainwright reiterated a buy rating and set a $7.00 target price on shares of Lineage Cell Therapeutics in a research note on Monday, May 6th.

Lineage Cell Therapeutics Price Performance

LCTX stock opened at $0.95 on Tuesday. Lineage Cell Therapeutics has a one year low of $0.77 and a one year high of $1.61. The firm has a market cap of $179.00 million, a price-to-earnings ratio of -6.77 and a beta of 1.29.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) last announced its earnings results on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The business had revenue of $1.41 million during the quarter, compared to the consensus estimate of $1.28 million. Lineage Cell Therapeutics had a negative net margin of 295.59% and a negative return on equity of 34.92%. As a group, sell-side analysts anticipate that Lineage Cell Therapeutics will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LCTX. Raffles Associates LP lifted its stake in Lineage Cell Therapeutics by 35.8% during the second quarter. Raffles Associates LP now owns 4,357,781 shares of the company’s stock worth $4,346,000 after purchasing an additional 1,147,800 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Lineage Cell Therapeutics during the 2nd quarter worth $61,000. Renaissance Technologies LLC boosted its stake in Lineage Cell Therapeutics by 10.0% in the second quarter. Renaissance Technologies LLC now owns 583,622 shares of the company’s stock valued at $582,000 after buying an additional 53,022 shares in the last quarter. Rhumbline Advisers grew its position in Lineage Cell Therapeutics by 15.1% in the second quarter. Rhumbline Advisers now owns 132,491 shares of the company’s stock valued at $132,000 after acquiring an additional 17,411 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Lineage Cell Therapeutics by 35.7% during the second quarter. Bank of New York Mellon Corp now owns 435,958 shares of the company’s stock worth $435,000 after acquiring an additional 114,762 shares in the last quarter. Institutional investors and hedge funds own 62.47% of the company’s stock.

About Lineage Cell Therapeutics

Lineage Cell Therapeutics, Inc, a clinical-stage biotechnology company, develops novel cell therapies for unmet medical needs in the United States and internationally. The company develops OpRegen, an allogeneic retinal pigment epithelium cell replacement therapy, which is in Phase 2a clinical trial for the treatment of the dry age-related macular degeneration; OPC1, an allogeneic oligodendrocyte progenitor cell therapy that is in Phase 1/2a multicenter clinical trial for the treatment of cervical spinal cord injuries; and VAC, an allogeneic cancer immunotherapy of antigen-presenting dendritic cells, which is in Phase I clinical trial to treat non-small cell lung cancer.