Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Trading Up 4.7% - Should You Buy?

Key Points

• Lineage Cell Therapeutics' stock price increased by 4.7%, trading at $1.79 with a volume surge of 108% compared to its average session volume.
• Analyst ratings are predominantly positive, with a consensus rating of "Buy" and a target price averaging $4.25.
• Institutional ownership is significant, with large investors like Broadwood Capital and Comerica Bank increasing their stakes significantly this year, holding 62.47% of the company's stock.

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX - Get Free Report)'s stock price shot up 4.7% during trading on Monday . The company traded as high as $1.80 and last traded at $1.79. 3,059,390 shares traded hands during mid-day trading, an increase of 108% from the average session volume of 1,467,892 shares. The stock had previously closed at $1.71.

Analyst Ratings Changes

Several brokerages have 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 Monday, June 23rd. D. Boral Capital reaffirmed a "buy" rating and set a $2.00 price target on shares of Lineage Cell Therapeutics in a research report on Wednesday, August 27th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, Lineage Cell Therapeutics has a consensus rating of "Buy" and a consensus target price of $4.25.

Lineage Cell Therapeutics Stock Up 4.7%

The company has a 50-day simple moving average of $1.23 and a two-hundred day simple moving average of $0.85. The stock has a market cap of $408.76 million, a P/E ratio of -9.94 and a beta of 1.66.

Institutional Investors Weigh In On Lineage Cell Therapeutics

Large investors have recently added to or reduced their stakes in the company. Broadwood Capital Inc. raised its stake in shares of Lineage Cell Therapeutics by 18.9% during the first quarter. Broadwood Capital Inc. now owns 49,560,992 shares of the company's stock valued at $22,382,000 after acquiring an additional 7,894,737 shares during the last quarter. Defender Capital LLC. increased its stake in shares of Lineage Cell Therapeutics by 7.5% during the second quarter. Defender Capital LLC. now owns 6,785,177 shares of the company's stock valued at $6,157,000 after buying an additional 474,304 shares during the period. Comerica Bank raised its holdings in shares of Lineage Cell Therapeutics by 275.0% during the first quarter. Comerica Bank now owns 3,000,000 shares of the company's stock valued at $1,355,000 after acquiring an additional 2,200,000 shares in the last quarter. Royal Bank of Canada lifted its stake in 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 period. Finally, Nuveen LLC bought a new stake in Lineage Cell Therapeutics in the first quarter valued at $233,000. Institutional investors own 62.47% of the company's stock.

Lineage Cell Therapeutics Company 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.

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