Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Shares Drop 1% – A Closer Look

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) experienced a slight decline of 1% in share value during mid-day trading on Friday. The stock hit a low of $0.50 and was last seen trading at the same price. Trading activity was notably high, with approximately 2,161,888 shares exchanged, which is double the average daily volume of 1,082,880 shares. The previous closing price for the stock was $0.51.

Insights from Wall Street Analysts

Several research analysts have expressed their views regarding the stock. HC Wainwright recently raised their price target for Lineage Cell Therapeutics from $7.00 to $9.00, assigning a “buy” rating in a report dated December 4th. In contrast, D. Boral Capital lowered their price target from $3.00 to $2.00 while maintaining a “buy” rating, as detailed in a research report on November 20th.

Performance Overview of Lineage Cell Therapeutics

The company has a market capitalization of $110.21 million, a price-to-earnings ratio of -4.17, and a beta of 1.16, indicating the potential for volatility in its stock price.

Institutional Investor Activity

Institutional investors have recently made significant moves regarding their positions in Lineage Cell Therapeutics. SG Americas Securities LLC acquired a new stake valued at about $46,000 during the third quarter. Additionally, XTX Topco Ltd invested approximately $61,000 in the second quarter, while GSA Capital Partners LLP purchased shares worth around $84,000 in the third quarter. Rhumbline Advisers increased their shareholding by 15.1% in the second quarter, bringing their total to 132,491 shares valued at around $132,000. Meanwhile, Barclays PLC expanded its position by an impressive 311.3% during the third quarter and now holds 211,300 shares worth approximately $192,000. Institutional ownership currently stands at 62.47% of the company’s stock.

Company Overview

Lineage Cell Therapeutics, Inc. is a clinical-stage biotechnology company specializing in the development of innovative cell therapies aimed at addressing unmet medical needs both in the United States and globally. Among its key products is OpRegen, an allogeneic retinal pigment epithelium cell replacement therapy that is currently undergoing a Phase 2a clinical trial for dry age-related macular degeneration. Another product is OPC1, an allogeneic oligodendrocyte progenitor cell therapy, which is being tested in a Phase 1/2a multicenter trial for cervical spinal cord injuries. Additionally, the company is advancing VAC, an allogeneic cancer immunotherapy designed to treat non-small cell lung cancer, now in its Phase I clinical trial.

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