Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Stock Price Up 7.6% – Time to Buy?

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) shares rose 7.6% during trading on Wednesday . The stock traded as high as $1.8350 and last traded at $1.83. Approximately 1,703,906 shares were traded during trading, an increase of 57% from the average daily volume of 1,087,912 shares. The stock had previously closed at $1.70.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Lineage Cell Therapeutics in a research note on Monday, November 24th. D. Boral Capital reaffirmed a “buy” rating and issued a $2.00 price objective on shares of Lineage Cell Therapeutics in a report on Tuesday, November 25th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $4.25.

Lineage Cell Therapeutics Stock Performance

The company has a market cap of $421.50 million, a P/E ratio of -6.31 and a beta of 1.74. The stock’s fifty day moving average price is $1.74 and its two-hundred day moving average price is $1.44.

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

Hedge Funds Weigh In On Lineage Cell Therapeutics

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its position in shares of Lineage Cell Therapeutics by 1,578.9% during the 1st quarter. Royal Bank of Canada now owns 528,656 shares of the company’s stock worth $237,000 after buying an additional 497,168 shares during the last quarter. Rhumbline Advisers grew its position in Lineage Cell Therapeutics by 9.9% in the first quarter. Rhumbline Advisers now owns 201,447 shares of the company’s stock valued at $91,000 after acquiring an additional 18,092 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in Lineage Cell Therapeutics during the second quarter worth about $25,000. Defender Capital LLC. lifted its holdings in shares of Lineage Cell Therapeutics by 7.5% in the second quarter. Defender Capital LLC. now owns 6,785,177 shares of the company’s stock worth $6,157,000 after acquiring an additional 474,304 shares during the last quarter. Finally, Cannon Global Investment Management LLC bought a new position in shares of Lineage Cell Therapeutics in the second quarter worth about $30,000. Institutional investors and hedge funds own 62.47% of the company’s stock.

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.