Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Stock Price Up 13.7% - Still a Buy?

Shares of Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX - Get Free Report) shot up 13.7% during mid-day trading on Wednesday . The company traded as high as $1.10 and last traded at $1.08. 2,390,776 shares were traded during trading, an increase of 46% from the average session volume of 1,641,591 shares. The stock had previously closed at $0.95.

Wall Street Analyst Weigh In

LCTX has been the topic of several recent analyst reports. HC Wainwright reiterated a "buy" rating and issued a $9.00 price target on shares of Lineage Cell Therapeutics in a research note on Monday, June 23rd. D. Boral Capital reiterated a "buy" rating and issued a $2.00 price target on shares of Lineage Cell Therapeutics in a research note on Monday, June 23rd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $4.20.

Lineage Cell Therapeutics Trading Down 1.7%

The business has a 50-day moving average price of $0.86 and a 200 day moving average price of $0.63. The company has a market cap of $258.05 million, a price-to-earnings ratio of -14.13 and a beta of 1.60.

Hedge Funds Weigh In On Lineage Cell Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Defender Capital LLC. increased its position in Lineage Cell Therapeutics by 7.5% during the second quarter. Defender Capital LLC. now owns 6,785,177 shares of the company's stock worth $6,157,000 after buying an additional 474,304 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in Lineage Cell Therapeutics during the second quarter valued at about $25,000. Rhumbline Advisers lifted its stake in shares of Lineage Cell Therapeutics by 9.9% in the first quarter. Rhumbline Advisers now owns 201,447 shares of the company's stock valued at $91,000 after buying an additional 18,092 shares during the period. Broadwood Capital Inc. lifted its stake in shares of Lineage Cell Therapeutics by 18.9% in the first quarter. Broadwood Capital Inc. now owns 49,560,992 shares of the company's stock valued at $22,382,000 after buying an additional 7,894,737 shares during the period. Finally, Royal Bank of Canada lifted its stake 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 valued at $237,000 after buying an additional 497,168 shares during the period. 62.47% of the stock is owned by institutional investors and hedge funds.

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.