Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Trading 4.9% Higher – Time to Buy?

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LCTX. Canaccord Genuity Group assumed coverage on Lineage Cell Therapeutics in a research note on Tuesday, April 28th. They issued a “buy” rating and a $9.00 price objective on the stock. B. Riley Financial increased their target price 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 restated a “buy” rating and issued a $9.00 price target on shares of Lineage Cell Therapeutics in a report on Tuesday, March 24th. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $3.00 price target on shares of Lineage Cell Therapeutics in a research report on Monday, May 4th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock 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 50 day simple moving average of $1.34 and a 200 day simple moving average of $1.56. The company has a market cap of $319.10 million, a price-to-earnings ratio of -4.41 and a beta of 1.53.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Defender Capital LLC. acquired a new stake in Lineage Cell Therapeutics during the 4th quarter valued at $11,405,000. Define Financial LLC acquired a new position in Lineage Cell Therapeutics in the 4th quarter worth $33,000. SummitTX Capital L.P. boosted its position in Lineage Cell Therapeutics by 185.3% in the 1st quarter. SummitTX Capital L.P. now owns 60,833 shares of the company’s stock valued at $96,000 after buying an additional 39,514 shares during the last quarter. Sei Investments Co. boosted its position in Lineage Cell Therapeutics by 56.8% in the 1st quarter. Sei Investments Co. now owns 422,274 shares of the company’s stock valued at $667,000 after buying an additional 152,963 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new stake in shares of Lineage Cell Therapeutics during the first quarter valued at about $7,268,000. 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.