Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Shares Down 1.7% – Time to Sell?

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX)’s stock price fell 1.7% during mid-day trading on Friday . The stock traded as low as $1.19 and last traded at $1.19. 980,573 shares were traded during trading, a decline of 15% from the average session volume of 1,148,093 shares. The stock had previously closed at $1.21.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LCTX. D. Boral Capital reaffirmed a “buy” rating and set a $3.00 price target on shares of Lineage Cell Therapeutics in a research note on Monday, May 4th. B. Riley Financial lifted their price target on Lineage Cell Therapeutics from $3.00 to $4.00 and gave the stock a “buy” rating in a research note on Wednesday, March 25th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Lineage Cell Therapeutics in a research note on Tuesday, March 24th. Finally, Canaccord Genuity Group began coverage on Lineage Cell Therapeutics in a research note on Tuesday, April 28th. They set a “buy” rating and a $9.00 price target for the company. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Lineage Cell Therapeutics has a consensus rating of “Buy” and an average price target of $6.25.

Lineage Cell Therapeutics Stock Down 1.7%

The firm has a market cap of $296.67 million, a PE ratio of -4.10 and a beta of 1.53. The firm’s 50 day moving average is $1.43 and its 200-day moving average is $1.61.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $1.73 million for the quarter, compared to analysts’ expectations of $3.60 million. Lineage Cell Therapeutics had a negative net margin of 434.44% and a negative return on equity of 89.36%. On average, analysts forecast that Lineage Cell Therapeutics, Inc. will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LCTX. SG Americas Securities LLC acquired a new position in shares of Lineage Cell Therapeutics during the 4th quarter valued at about $25,000. Jump Financial LLC acquired a new position in shares of Lineage Cell Therapeutics during the 2nd quarter valued at about $28,000. DLD Asset Management LP acquired a new position in shares of Lineage Cell Therapeutics during the 4th quarter valued at about $33,000. Define Financial LLC purchased a new position in Lineage Cell Therapeutics during the fourth quarter worth approximately $33,000. Finally, Qube Research & Technologies Ltd purchased a new position in Lineage Cell Therapeutics during the second quarter worth approximately $35,000. Institutional investors and hedge funds own 62.47% of the company’s stock.

Lineage Cell Therapeutics Company Profile

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.