Comerica Bank Buys 2,200,000 Shares of Lineage Cell Therapeutics, Inc. $LCTX

Key Points

• Comerica Bank has increased its stake in Lineage Cell Therapeutics by 275.0%, owning 3 million shares worth approximately $1.36 million after purchasing an additional 2.2 million shares in Q1.
• Multiple institutional investors, including Two Sigma Investments and Jane Street Group, have also made significant acquisitions and increases in their positions in Lineage Cell Therapeutics, contributing to 62.47% institutional ownership.
• Analysts maintain a consensus rating of "Buy" for the stock with an average price target of $4.25, indicating potential growth opportunities for investors.

Comerica Bank lifted its holdings in shares of Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX - Free Report) by 275.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,000,000 shares of the company's stock after buying an additional 2,200,000 shares during the quarter. Comerica Bank owned approximately 1.36% of Lineage Cell Therapeutics worth $1,355,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in shares of Lineage Cell Therapeutics by 33.0% during the 4th quarter. Wells Fargo & Company MN now owns 94,894 shares of the company's stock valued at $48,000 after acquiring an additional 23,527 shares during the last quarter. Barclays PLC boosted its position in Lineage Cell Therapeutics by 10.8% in the fourth quarter. Barclays PLC now owns 234,069 shares of the company's stock valued at $118,000 after buying an additional 22,769 shares in the last quarter. Jane Street Group LLC increased its stake in Lineage Cell Therapeutics by 119.2% in the fourth quarter. Jane Street Group LLC now owns 262,866 shares of the company's stock valued at $132,000 after purchasing an additional 142,965 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in Lineage Cell Therapeutics in the fourth quarter valued at about $1,984,000. Finally, DAFNA Capital Management LLC grew its stake in Lineage Cell Therapeutics by 85.9% in the 4th quarter. DAFNA Capital Management LLC now owns 2,511,374 shares of the company's stock worth $1,262,000 after buying an additional 1,160,666 shares in the last quarter. Hedge funds and other institutional investors own 62.47% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. HC Wainwright reiterated a "buy" rating and set a $9.00 price objective on shares of Lineage Cell Therapeutics in a research report on Monday, June 23rd. D. Boral Capital reaffirmed a "buy" rating and issued a $2.00 price objective on shares of Lineage Cell Therapeutics in a report on Wednesday, August 27th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $4.25.

Lineage Cell Therapeutics Trading Up 1.2%

Shares of LCTX traded up $0.02 during mid-day trading on Monday, hitting $1.24. The company's stock had a trading volume of 533,223 shares, compared to its average volume of 1,864,563. Lineage Cell Therapeutics, Inc. has a 52-week low of $0.37 and a 52-week high of $1.31. The firm has a market capitalization of $282.02 million, a price-to-earnings ratio of -6.86 and a beta of 1.66. The company's 50-day moving average is $1.07 and its 200-day moving average is $0.75.

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.