Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Shares Down 1% – What’s Next?

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) dropped 1% on Friday . The stock traded as low as $0.50 and last traded at $0.50. Approximately 2,161,888 shares traded hands during mid-day trading, an increase of 100% from the average daily volume of 1,082,880 shares. The stock had previously closed at $0.51.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LCTX. HC Wainwright lifted their target price on shares of Lineage Cell Therapeutics from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. D. Boral Capital dropped their price objective on shares of Lineage Cell Therapeutics from $3.00 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, November 20th.

Lineage Cell Therapeutics Stock Performance

The stock has a market cap of $110.21 million, a price-to-earnings ratio of -4.17 and a beta of 1.16.

Hedge Funds Weigh In On Lineage Cell Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raffles Associates LP boosted its position in Lineage Cell Therapeutics by 35.8% in the 2nd quarter. Raffles Associates LP now owns 4,357,781 shares of the company’s stock valued at $4,346,000 after buying an additional 1,147,800 shares during the last quarter. Barclays PLC lifted its stake in shares of Lineage Cell Therapeutics by 311.3% in the third quarter. Barclays PLC now owns 211,300 shares of the company’s stock worth $192,000 after acquiring an additional 159,924 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Lineage Cell Therapeutics by 35.7% in the second quarter. Bank of New York Mellon Corp now owns 435,958 shares of the company’s stock valued at $435,000 after purchasing an additional 114,762 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Lineage Cell Therapeutics during the 3rd quarter valued at approximately $84,000. Finally, Geode Capital Management LLC grew its stake in Lineage Cell Therapeutics by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,679,280 shares of the company’s stock valued at $3,331,000 after purchasing an additional 83,274 shares in the last quarter. Hedge funds and other 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.