Raffles Associates LP Purchases New Position in Lineage Cell Therapeutics, Inc. $LCTX

Key Points

• Raffles Associates LP acquired 5.2 million shares of Lineage Cell Therapeutics in the second quarter, valued at approximately $6.8 million and representing 2.06% of LCTX.
• Institutional interest increased, with BlackRock, Fifth Third Bancorp and Marshall Wace also establishing new positions, while Goldman Sachs and Jane Street significantly expanded theirs. Hedge funds and other institutions now own 62.47% of the company.
• LCTX shares opened at $1.13, near the lower end of their 52-week range. Despite weak fundamentals—including a $0.03 quarterly loss per share and negative margins—analysts maintain a consensus “Buy” rating with a $6.25 price target.

Raffles Associates LP acquired a new stake in Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,197,788 shares of the company's stock, valued at approximately $6,809,000. Lineage Cell Therapeutics makes up about 5.6% of Raffles Associates LP's portfolio, making the stock its 5th largest position. Raffles Associates LP owned 2.06% of Lineage Cell Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Lineage Cell Therapeutics in the 2nd quarter valued at about $17,275,000. Fifth Third Bancorp acquired a new position in Lineage Cell Therapeutics during the first quarter worth approximately $7,268,000. Marshall Wace LLP acquired a new position in Lineage Cell Therapeutics during the fourth quarter worth approximately $2,275,000. Goldman Sachs Group Inc. lifted its stake in Lineage Cell Therapeutics by 894.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,438,746 shares of the company's stock valued at $2,403,000 after buying an additional 1,294,070 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Lineage Cell Therapeutics by 494.7% in the fourth quarter. Jane Street Group LLC now owns 1,004,794 shares of the company's stock valued at $1,678,000 after buying an additional 835,831 shares during the last quarter. Hedge funds and other institutional investors own 62.47% of the company's stock.

Lineage Cell Therapeutics Stock Up 3.7%

Shares of LCTX stock opened at $1.13 on Wednesday. The stock has a market capitalization of $285.79 million, a PE ratio of -5.95 and a beta of 1.53. Lineage Cell Therapeutics, Inc. has a 52-week low of $1.00 and a 52-week high of $2.09. The stock's 50-day moving average price is $1.17 and its 200 day moving average price is $1.40.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). Lineage Cell Therapeutics had a negative return on equity of 73.06% and a negative net margin of 246.58%.The firm had revenue of $1.07 million during the quarter, compared to the consensus estimate of $1.84 million. Analysts expect that Lineage Cell Therapeutics, Inc. will post -0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LCTX has been the subject of several research analyst reports. D. Boral Capital reissued a "buy" rating and issued a $3.00 price objective on shares of Lineage Cell Therapeutics in a report on Monday, May 4th. HC Wainwright reaffirmed a "buy" rating on shares of Lineage Cell Therapeutics in a report on Tuesday, July 14th. Finally, Canaccord Genuity Group assumed coverage on shares of Lineage Cell Therapeutics in a research report on Tuesday, April 28th. They issued a "buy" rating and a $9.00 price target for the company. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $6.25.

Lineage Cell Therapeutics 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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