BioTime (NYSEAMERICAN:BTX) saw a large growth in short interest in May. As of May 15th, there was short interest totalling 9,095,764 shares, a growth of 3.3% from the April 30th total of 8,805,300 shares. Based on an average daily volume of 339,794 shares, the days-to-cover ratio is currently 26.8 days. Approximately 7.3% of the company’s stock are short sold.
A number of equities analysts have recently issued reports on the stock. Lake Street Capital assumed coverage on shares of BioTime in a research report on Friday, February 2nd. They set a “buy” rating and a $8.00 price objective on the stock. Zacks Investment Research cut shares of BioTime from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 22nd. Finally, TheStreet cut shares of BioTime from a “c” rating to a “d” rating in a research report on Monday, April 9th. Three equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $5.75.
Several institutional investors have recently added to or reduced their stakes in BTX. AXA bought a new position in shares of BioTime during the 4th quarter valued at approximately $4,942,000. Renaissance Technologies LLC grew its position in shares of BioTime by 206.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,197,800 shares of the biotechnology company’s stock valued at $2,575,000 after acquiring an additional 807,500 shares during the period. Artal Group S.A. grew its position in shares of BioTime by 21.5% during the 4th quarter. Artal Group S.A. now owns 1,557,050 shares of the biotechnology company’s stock valued at $3,348,000 after acquiring an additional 275,000 shares during the period. Bank of New York Mellon Corp grew its position in shares of BioTime by 42.8% during the 4th quarter. Bank of New York Mellon Corp now owns 658,373 shares of the biotechnology company’s stock valued at $1,416,000 after acquiring an additional 197,373 shares during the period. Finally, Granite Point Capital Management L.P. grew its position in shares of BioTime by 415.3% during the 4th quarter. Granite Point Capital Management L.P. now owns 229,550 shares of the biotechnology company’s stock valued at $494,000 after acquiring an additional 185,000 shares during the period.
BioTime (NYSEAMERICAN:BTX) last posted its quarterly earnings data on Thursday, May 10th. The biotechnology company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). BioTime had a net margin of 828.55% and a return on equity of 30.68%. The firm had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.83 million.
BioTime, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing products addressing degenerative diseases based on pluripotent stem cells and HyStem cell/drug delivery platform technologies primarily in the United States and Israel. The company's lead product candidates include OpRegen, a retinal pigment epithelium cell replacement therapy, which is in Phase I/IIa multicenter trial for the treatment of the dry age-related macular degeneration; and Renevia, a facial aesthetics product that is in pivotal clinical trial for the treatment of HIV-associated facial lipoatrophy.
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