Maxim Group Has Lowered Expectations for Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Stock Price

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) had its price target reduced by research analysts at Maxim Group from $5.00 to $3.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Maxim Group’s target price indicates a potential upside of 417.24% from the stock’s current price.

LCTX has been the subject of several other reports. HC Wainwright lifted their price objective on Lineage Cell Therapeutics from $7.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. D. Boral Capital reissued a “buy” rating and issued a $2.00 target price on shares of Lineage Cell Therapeutics in a report on Friday, January 3rd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Lineage Cell Therapeutics has an average rating of “Buy” and a consensus target price of $4.80.

Lineage Cell Therapeutics Stock Performance

NYSEAMERICAN:LCTX opened at $0.58 on Friday. The firm has a market capitalization of $127.84 million, a price-to-earnings ratio of -4.83 and a beta of 1.16. Lineage Cell Therapeutics has a one year low of $0.48 and a one year high of $1.61.

Institutional Trading of Lineage Cell Therapeutics

Several hedge funds have recently modified their holdings of the stock. Raffles Associates LP lifted its holdings in shares of Lineage Cell Therapeutics by 35.8% in the 2nd quarter. Raffles Associates LP now owns 4,357,781 shares of the company’s stock worth $4,346,000 after purchasing an additional 1,147,800 shares in 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 last quarter. Bank of New York Mellon Corp increased its holdings in Lineage Cell Therapeutics by 35.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 435,958 shares of the company’s stock worth $435,000 after purchasing an additional 114,762 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Lineage Cell Therapeutics in the third quarter valued at approximately $84,000. Finally, Geode Capital Management LLC boosted its position in shares of 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 buying an additional 83,274 shares during the last quarter. Institutional investors own 62.47% of the company’s stock.

Lineage Cell Therapeutics Company Profile

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.