Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Posts Quarterly Earnings Results, Misses Estimates By $0.11 EPS

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) issued its quarterly earnings data on Thursday. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.11), FiscalAI reports. Lineage Cell Therapeutics had a negative return on equity of 20.00% and a negative net margin of 374.84%.The business had revenue of $3.68 million during the quarter, compared to the consensus estimate of $2.30 million.

Lineage Cell Therapeutics Price Performance

Lineage Cell Therapeutics stock traded down $0.09 during trading hours on Thursday, reaching $1.73. The stock had a trading volume of 2,078,347 shares, compared to its average volume of 1,869,038. The company has a market cap of $395.06 million, a price-to-earnings ratio of -9.61 and a beta of 1.77. The business’s 50 day moving average price is $1.57 and its 200-day moving average price is $1.09. Lineage Cell Therapeutics has a 52 week low of $0.37 and a 52 week high of $2.09.

Institutional Investors Weigh In On Lineage Cell Therapeutics

A number of large investors have recently bought and sold shares of LCTX. Jump Financial LLC purchased a new stake in Lineage Cell Therapeutics in the 2nd quarter worth approximately $28,000. Qube Research & Technologies Ltd purchased a new stake in Lineage Cell Therapeutics in the 2nd quarter valued at $35,000. Hudson Bay Capital Management LP purchased a new stake in Lineage Cell Therapeutics in the 2nd quarter valued at $44,000. Raymond James Financial Inc. grew its holdings in Lineage Cell Therapeutics by 136.2% in the 2nd quarter. Raymond James Financial Inc. now owns 69,380 shares of the company’s stock valued at $63,000 after buying an additional 40,009 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in Lineage Cell Therapeutics in the 2nd quarter valued at $69,000. Hedge funds and other institutional investors own 62.47% of the company’s stock.

Analyst Ratings Changes

Separately, D. Boral Capital reiterated a “buy” rating and set a $2.00 price objective on shares of Lineage Cell Therapeutics in a research report on Wednesday, August 27th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $4.25.

About Lineage Cell Therapeutics

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.