Raffles Associates LP Acquires 984,307 Shares of Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX)

Raffles Associates LP increased its stake in Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX - Free Report) by 21.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,492,088 shares of the company's stock after purchasing an additional 984,307 shares during the period. Lineage Cell Therapeutics makes up 3.0% of Raffles Associates LP's holdings, making the stock its 12th biggest holding. Raffles Associates LP owned 2.49% of Lineage Cell Therapeutics worth $2,760,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of LCTX. Comerica Bank lifted its position in shares of Lineage Cell Therapeutics by 220.0% during the 4th quarter. Comerica Bank now owns 800,000 shares of the company's stock worth $402,000 after buying an additional 550,000 shares during the last quarter. Barclays PLC boosted its stake in shares of Lineage Cell Therapeutics by 10.8% in the 4th quarter. Barclays PLC now owns 234,069 shares of the company's stock valued at $118,000 after purchasing an additional 22,769 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Lineage Cell Therapeutics by 1,058.3% in the 4th quarter. Renaissance Technologies LLC now owns 2,283,072 shares of the company's stock valued at $1,147,000 after purchasing an additional 2,085,972 shares in the last quarter. Wells Fargo & Company MN grew its holdings 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 purchasing an additional 23,527 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Lineage Cell Therapeutics by 39.8% in the fourth quarter. JPMorgan Chase & Co. now owns 946,399 shares of the company's stock valued at $476,000 after buying an additional 269,237 shares in the last quarter. Institutional investors and hedge funds own 62.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LCTX. HC Wainwright reissued a "buy" rating and set a $9.00 price objective on shares of Lineage Cell Therapeutics in a report on Tuesday, March 11th. D. Boral Capital restated a "buy" rating and set a $2.00 price target on shares of Lineage Cell Therapeutics in a report on Tuesday, March 11th. B. Riley dropped their price objective on shares of Lineage Cell Therapeutics from $4.00 to $3.00 and set a "buy" rating for the company in a report on Friday, March 14th. Finally, Maxim Group decreased their price target on Lineage Cell Therapeutics from $5.00 to $3.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $4.20.

Lineage Cell Therapeutics Stock Performance

Shares of NYSEAMERICAN LCTX traded down $0.02 during trading on Tuesday, hitting $0.43. 427,612 shares of the company traded hands, compared to its average volume of 1,319,917. The firm has a market capitalization of $95.66 million, a price-to-earnings ratio of -3.62 and a beta of 1.21. The business's fifty day moving average is $0.48 and its 200 day moving average is $0.64. Lineage Cell Therapeutics, Inc. has a fifty-two week low of $0.37 and a fifty-two week high of $1.40.

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.