Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Trading Down 3.1% – Here’s What Happened

Shares of Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) fell 3.1% during mid-day trading on Wednesday . The company traded as low as $1.5650 and last traded at $1.58. 1,129,796 shares were traded during mid-day trading, an increase of 34% from the average session volume of 844,595 shares. The stock had previously closed at $1.63.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LCTX. D. Boral Capital reaffirmed a “buy” rating and issued a $2.00 price target on shares of Lineage Cell Therapeutics in a research note on Tuesday, November 25th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Lineage Cell Therapeutics in a research report on Monday, November 24th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Lineage Cell Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $4.67.

Lineage Cell Therapeutics Trading Down 3.1%

The company has a 50 day moving average of $1.69 and a 200 day moving average of $1.51. The firm has a market cap of $363.92 million, a price-to-earnings ratio of -5.45 and a beta of 1.74.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.11). Lineage Cell Therapeutics had a negative return on equity of 72.02% and a negative net margin of 625.53%.The business had revenue of $3.68 million during the quarter, compared to the consensus estimate of $2.30 million. Equities analysts forecast that Lineage Cell Therapeutics, Inc. will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its position in shares of 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 purchasing an additional 497,168 shares in the last quarter. Rhumbline Advisers lifted its stake in Lineage Cell Therapeutics by 9.9% in the 1st quarter. Rhumbline Advisers now owns 201,447 shares of the company’s stock valued at $91,000 after purchasing an additional 18,092 shares during the last quarter. Defender Capital LLC. increased its position in Lineage Cell Therapeutics by 7.5% during the second quarter. Defender Capital LLC. now owns 6,785,177 shares of the company’s stock worth $6,157,000 after buying an additional 474,304 shares during the last quarter. Cannon Global Investment Management LLC bought a new stake in Lineage Cell Therapeutics in the second quarter valued at approximately $30,000. Finally, Ground Swell Capital LLC bought a new stake in Lineage Cell Therapeutics in the second quarter valued at approximately $95,000. 62.47% of the stock is owned by institutional investors and hedge funds.

About Lineage Cell Therapeutics

Lineage Cell Therapeutics is a clinical-stage biotechnology company developing novel, allogeneic cell therapies built on pluripotent stem cell platforms. The company focuses on three primary therapeutic areas—retinal disease, neural repair and immune-effector cell oncology—leveraging its proprietary manufacturing processes to create off-the-shelf cell therapy candidates designed for broad patient populations.

Its lead candidate, OpRegen, comprises retinal pigment epithelium cells intended to slow or reverse vision loss in patients with geographic atrophy secondary to age-related macular degeneration.