Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Shares Up 8.7% - Time to Buy?

Key Points

• Lineage Cell Therapeutics shares rose 8.7% to $1.03, with trading volume more than doubling the average session volume.
• Analysts maintain a favorable outlook: HC Wainwright reaffirmed a “Buy” rating, while the consensus price target is $6.25 versus the current share price.
• The company remains financially unprofitable, reporting a $0.03 quarterly loss per share and $1.07 million in revenue, below analysts’ $1.84 million estimate; institutional investors own 62.47% of the stock.

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX - Get Free Report)'s stock price shot up 8.7% during trading on Friday. The stock traded as high as $1.04 and last traded at $1.03. 2,480,587 shares changed hands during trading, an increase of 101% from the average session volume of 1,231,612 shares. The stock had previously closed at $0.9478.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed 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 MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $6.25.

Lineage Cell Therapeutics Price Performance

The firm's 50-day moving average price is $1.08 and its 200-day moving average price is $1.29. The company has a market cap of $260.50 million, a price-to-earnings ratio of -5.42 and a beta of 1.54.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). Lineage Cell Therapeutics had a negative net margin of 246.58% and a negative return on equity of 73.06%. The business had revenue of $1.07 million for the quarter, compared to analyst estimates of $1.84 million. On average, sell-side analysts anticipate that Lineage Cell Therapeutics, Inc. will post -0.08 earnings per share for the current year.

Institutional Investors Weigh In On Lineage Cell Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Securities LLC raised its stake in shares of Lineage Cell Therapeutics by 85.4% in the 2nd quarter. Two Sigma Securities LLC now owns 37,793 shares of the company's stock valued at $50,000 after purchasing an additional 17,403 shares in the last quarter. Equitable Holdings Inc. acquired a new position in Lineage Cell Therapeutics in the second quarter worth about $39,000. Ascentis Independent Advisors acquired a new position in Lineage Cell Therapeutics in the first quarter worth about $49,000. SummitTX Capital L.P. increased its holdings in Lineage Cell Therapeutics by 185.3% in the first quarter. SummitTX Capital L.P. now owns 60,833 shares of the company's stock valued at $96,000 after buying an additional 39,514 shares during the last quarter. Finally, State of Wyoming bought a new stake in Lineage Cell Therapeutics in the second quarter valued at about $57,000. Hedge funds and other institutional investors own 62.47% of the company's stock.

Lineage Cell Therapeutics Company Profile

Lineage Cell Therapeutics, Inc is a biotechnology company focused on developing allogeneic cell therapies intended to address diseases and conditions with significant unmet medical needs. The company uses its cell differentiation and manufacturing platforms to produce specialized human cells designed to replace, support or repair damaged tissue.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.