Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Trading Down 8.2% – Here’s What Happened

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) shares dropped 8.2% on Tuesday . The stock traded as low as $1.80 and last traded at $1.80. Approximately 3,024,622 shares traded hands during trading, an increase of 62% from the average daily volume of 1,872,153 shares. The stock had previously closed at $1.96.

Analysts Set New Price Targets

Separately, D. Boral Capital reiterated a “buy” rating and issued a $2.00 price objective on shares of Lineage Cell Therapeutics in a research note on Wednesday, August 27th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $4.25.

Lineage Cell Therapeutics Trading Down 8.2%

The stock has a market capitalization of $411.05 million, a price-to-earnings ratio of -10.00 and a beta of 1.77. The company’s 50 day moving average is $1.56 and its 200 day moving average is $1.09.

Hedge Funds Weigh In On Lineage Cell Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Red Crane Wealth Management LLC raised its holdings in shares of Lineage Cell Therapeutics by 3.1% in the third quarter. Red Crane Wealth Management LLC now owns 511,363 shares of the company’s stock worth $864,000 after acquiring an additional 15,365 shares during the last quarter. Nwam LLC increased its position in Lineage Cell Therapeutics by 133.3% during the 3rd quarter. Nwam LLC now owns 35,000 shares of the company’s stock worth $56,000 after purchasing an additional 20,000 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new position in Lineage Cell Therapeutics in the 3rd quarter valued at about $25,000. Hudson Bay Capital Management LP purchased a new position in Lineage Cell Therapeutics in the 2nd quarter valued at about $44,000. Finally, Brevan Howard Capital Management LP purchased a new position in Lineage Cell Therapeutics in the 2nd quarter valued at about $281,000. 62.47% of the stock is owned by institutional investors and hedge funds.

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.