Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Shares Down 1.2% - What's Next?

Key Points

• Lineage Cell Therapeutics shares fell 1.2% to about $0.98 in Friday mid-day trading, with volume 25% below its average. The stock remains below its 50-day and 200-day moving averages.
• Analysts maintain a positive outlook: four analysts rate the stock a “Buy,” with an average price target of $6.25, far above its current price.
• The company reported a quarterly loss of $0.03 per share in line with estimates, but revenue of $1.07 million missed expectations of $1.84 million. Institutional investors own 62.47% of the stock, while Lineage continues developing its lead OpRegen cell therapy for geographic atrophy linked to dry age-related macular degeneration.

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX - Get Free Report)'s share price traded down 1.2% during mid-day trading on Friday. The stock traded as low as $0.96 and last traded at $0.9783. Approximately 1,308,653 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 1,738,655 shares. The stock had previously closed at $0.9903.

Analysts Set New Price Targets

Separately, HC Wainwright restated a "buy" rating on shares of Lineage Cell Therapeutics in a research note on Tuesday, July 14th. Four research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $6.25.

Lineage Cell Therapeutics Price Performance

The firm has a 50-day moving average of $1.03 and a 200-day moving average of $1.22. The stock has a market cap of $247.42 million, a PE ratio of -5.15 and a beta of 1.60.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, hitting analysts' consensus estimates of ($0.03). Lineage Cell Therapeutics had a negative return on equity of 73.06% and a negative net margin of 246.58%. The company had revenue of $1.07 million for the quarter, compared to analysts' expectations of $1.84 million. Equities analysts forecast that Lineage Cell Therapeutics, Inc. will post -0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Lineage Cell Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of LCTX. Equitable Holdings Inc. bought a new stake in Lineage Cell Therapeutics in the 2nd quarter valued at $39,000. Ascentis Independent Advisors purchased a new stake in shares of Lineage Cell Therapeutics in the first quarter worth about $49,000. Two Sigma Securities LLC lifted its position in shares of Lineage Cell Therapeutics by 85.4% in the second quarter. Two Sigma Securities LLC now owns 37,793 shares of the company's stock worth $50,000 after buying an additional 17,403 shares in the last quarter. State of Wyoming bought a new position in shares of Lineage Cell Therapeutics during the 2nd quarter valued at approximately $57,000. Finally, Cibc World Market Inc. purchased a new position in shares of Lineage Cell Therapeutics in the 2nd quarter worth $62,000. Institutional investors own 62.47% of the company's stock.

About Lineage Cell Therapeutics

Lineage Cell Therapeutics, Inc is a clinical-stage biotechnology company focused on developing allogeneic cell therapies for diseases with significant unmet medical needs. The company uses its cell biology and manufacturing platforms to create specialized cells intended to replace, support or repair damaged tissues.

Lineage's lead program, OpRegen, is an investigational retinal pigment epithelium cell therapy being developed for geographic atrophy associated with dry age-related macular degeneration.

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