Broadwood Capital Inc. Has $22.38 Million Stock Position in Lineage Cell Therapeutics, Inc. $LCTX

Key Points

• Broadwood Capital Inc. increased its stake in Lineage Cell Therapeutics by 18.9%, making it the 6th largest position in their portfolio, with a total of approximately 49.6 million shares.
• Lineage Cell Therapeutics' stock has seen a 4.3% increase recently, with current trading around $1.22, and a 52-week range between $0.37 and $1.31.
• Analysts maintain a positive outlook on the stock, with a consensus buy rating and a price target averaging around $4.25.

Broadwood Capital Inc. increased its stake in Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX - Free Report) by 18.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,560,992 shares of the company's stock after acquiring an additional 7,894,737 shares during the period. Lineage Cell Therapeutics makes up 1.8% of Broadwood Capital Inc.'s investment portfolio, making the stock its 6th largest position. Broadwood Capital Inc. owned about 22.48% of Lineage Cell Therapeutics worth $22,382,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Royal Bank of Canada boosted its position in shares of Lineage Cell Therapeutics by 1,578.9% in the first quarter. Royal Bank of Canada now owns 528,656 shares of the company's stock worth $237,000 after acquiring an additional 497,168 shares during the last quarter. Comerica Bank grew its holdings in shares of Lineage Cell Therapeutics by 275.0% during the 1st quarter. Comerica Bank now owns 3,000,000 shares of the company's stock worth $1,355,000 after purchasing an additional 2,200,000 shares during the period. Cookson Peirce & Co. Inc. purchased a new stake in shares of Lineage Cell Therapeutics during the 1st quarter worth about $113,000. Nuveen LLC purchased a new stake in shares of Lineage Cell Therapeutics during the 1st quarter worth about $233,000. Finally, Red Crane Wealth Management LLC grew its holdings in shares of Lineage Cell Therapeutics by 45.8% during the 1st quarter. Red Crane Wealth Management LLC now owns 495,996 shares of the company's stock worth $224,000 after purchasing an additional 155,760 shares during the period. 62.47% of the stock is owned by institutional investors and hedge funds.

Lineage Cell Therapeutics Stock Up 1.2%

Shares of LCTX traded up $0.02 during trading on Monday, reaching $1.24. The company's stock had a trading volume of 425,967 shares, compared to its average volume of 1,863,914. The company has a fifty day moving average of $1.07 and a two-hundred day moving average of $0.75. Lineage Cell Therapeutics, Inc. has a twelve month low of $0.37 and a twelve month high of $1.31. The company has a market cap of $282.02 million, a price-to-earnings ratio of -6.86 and a beta of 1.66.

Analyst Ratings Changes

LCTX has been the subject of a number of research reports. D. Boral Capital reiterated a "buy" rating and set a $2.00 target price on shares of Lineage Cell Therapeutics in a report on Wednesday, August 27th. HC Wainwright reissued a "buy" rating and set a $9.00 price target on shares of Lineage Cell Therapeutics in a research report on Monday, June 23rd. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $4.25.

Lineage Cell Therapeutics Profile

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.