Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Given New $3.00 Price Target at Maxim Group

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) had its price target dropped by equities researchers at Maxim Group from $5.00 to $3.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Maxim Group’s price target would indicate a potential upside of 454.12% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. D. Boral Capital restated a “buy” rating and issued a $2.00 price target on shares of Lineage Cell Therapeutics in a research report on Friday, January 3rd. HC Wainwright increased their price objective on Lineage Cell Therapeutics from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $4.80.

Lineage Cell Therapeutics Stock Performance

Lineage Cell Therapeutics stock traded up $0.01 during mid-day trading on Friday, hitting $0.54. The company’s stock had a trading volume of 776,765 shares, compared to its average volume of 3,874,053. The firm has a market cap of $119.34 million, a price-to-earnings ratio of -4.51 and a beta of 1.16. Lineage Cell Therapeutics has a twelve month low of $0.48 and a twelve month high of $1.61.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in Lineage Cell Therapeutics by 2.3% during the third quarter. Geode Capital Management LLC now owns 3,679,280 shares of the company’s stock valued at $3,331,000 after purchasing an additional 83,274 shares during the last quarter. State Street Corp lifted its position in shares of Lineage Cell Therapeutics by 1.8% during the 3rd quarter. State Street Corp now owns 2,608,352 shares of the company’s stock worth $2,361,000 after purchasing an additional 45,483 shares during the last quarter. Barclays PLC boosted its stake in Lineage Cell Therapeutics by 311.3% during the 3rd quarter. Barclays PLC now owns 211,300 shares of the company’s stock valued at $192,000 after purchasing an additional 159,924 shares during the period. Raffles Associates LP grew its holdings in Lineage Cell Therapeutics by 35.8% in the 2nd quarter. Raffles Associates LP now owns 4,357,781 shares of the company’s stock valued at $4,346,000 after buying an additional 1,147,800 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Lineage Cell Therapeutics by 35.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 435,958 shares of the company’s stock worth $435,000 after buying an additional 114,762 shares during the period. Institutional investors and hedge funds own 62.47% of the company’s stock.

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.