Fifth Third Bancorp Makes New Investment in Lineage Cell Therapeutics, Inc. $LCTX

Key Points

• Fifth Third Bancorp disclosed a new Q1 stake in Lineage Cell Therapeutics, buying 4.6 million shares valued at about $7.27 million, or roughly 1.85% of the company.
• Lineage Cell Therapeutics also continues to attract institutional interest, with hedge funds and other investors owning about 62.47% of the stock.
• The company’s latest quarterly results missed estimates, posting a loss of $0.03 per share on revenue of $1.73 million, while analysts still maintain a Buy consensus with an average price target of $6.25.

Fifth Third Bancorp acquired a new stake in shares of Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 4,600,000 shares of the company's stock, valued at approximately $7,268,000. Fifth Third Bancorp owned about 1.85% of Lineage Cell Therapeutics as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Lineage Cell Therapeutics by 6.2% in the third quarter. Vanguard Group Inc. now owns 9,006,930 shares of the company's stock worth $15,222,000 after buying an additional 524,057 shares in the last quarter. Defender Capital LLC. purchased a new position in Lineage Cell Therapeutics during the 4th quarter valued at approximately $11,405,000. Millennium Management LLC grew its holdings in Lineage Cell Therapeutics by 3.1% during the 3rd quarter. Millennium Management LLC now owns 2,680,003 shares of the company's stock valued at $4,529,000 after buying an additional 79,426 shares in the last quarter. Geode Capital Management LLC increased its stake in Lineage Cell Therapeutics by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,461,193 shares of the company's stock worth $4,112,000 after acquiring an additional 41,427 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Lineage Cell Therapeutics by 26.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,404,800 shares of the company's stock worth $4,016,000 after acquiring an additional 499,167 shares during the last quarter. Hedge funds and other institutional investors own 62.47% of the company's stock.

Lineage Cell Therapeutics Stock Performance

Shares of Lineage Cell Therapeutics stock opened at $1.17 on Friday. The stock has a market cap of $291.68 million, a price-to-earnings ratio of -4.03 and a beta of 1.51. The stock has a 50 day moving average price of $1.27 and a 200-day moving average price of $1.51. Lineage Cell Therapeutics, Inc. has a one year low of $0.93 and a one year high of $2.09.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX - Get Free Report) last issued its quarterly 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). Lineage Cell Therapeutics had a negative return on equity of 89.36% and a negative net margin of 434.44%.The company had revenue of $1.73 million during the quarter, compared to the consensus estimate of $3.60 million. Sell-side analysts predict that Lineage Cell Therapeutics, Inc. will post -0.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LCTX has been the subject of a number of research reports. B. Riley Financial increased their target price on Lineage Cell Therapeutics from $3.00 to $4.00 and gave the company a "buy" rating in a research report on Wednesday, March 25th. HC Wainwright restated a "buy" rating on shares of Lineage Cell Therapeutics in a research report on Tuesday. Canaccord Genuity Group initiated coverage on shares of Lineage Cell Therapeutics in a research note on Tuesday, April 28th. They set a "buy" rating and a $9.00 price target on the stock. Finally, D. Boral Capital reiterated a "buy" rating and set a $3.00 price objective on shares of Lineage Cell Therapeutics in a research report on Monday, May 4th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $6.25.

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.

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