Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) is Raffles Associates LP’s 8th Largest Position

Raffles Associates LP increased its stake in shares of Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) by 35.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,357,781 shares of the company’s stock after buying an additional 1,147,800 shares during the period. Lineage Cell Therapeutics comprises 4.9% of Raffles Associates LP’s portfolio, making the stock its 8th largest holding. Raffles Associates LP owned 2.31% of Lineage Cell Therapeutics worth $4,346,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Lineage Cell Therapeutics in the 1st quarter worth about $30,000. XTX Topco Ltd purchased a new stake in shares of Lineage Cell Therapeutics in the second quarter valued at about $61,000. DCF Advisers LLC grew its position in shares of Lineage Cell Therapeutics by 14.5% in the fourth quarter. DCF Advisers LLC now owns 94,751 shares of the company’s stock valued at $103,000 after purchasing an additional 12,000 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Lineage Cell Therapeutics by 15.1% during the 2nd quarter. Rhumbline Advisers now owns 132,491 shares of the company’s stock worth $132,000 after purchasing an additional 17,411 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Lineage Cell Therapeutics by 77.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 161,314 shares of the company’s stock worth $239,000 after purchasing an additional 70,418 shares during the last quarter. 62.47% of the stock is owned by hedge funds and other institutional investors.

Lineage Cell Therapeutics Stock Performance

Shares of LCTX stock opened at $0.94 on Tuesday. The firm has a market capitalization of $178.04 million, a price-to-earnings ratio of -6.73 and a beta of 1.26. Lineage Cell Therapeutics, Inc. has a 12 month low of $0.77 and a 12 month high of $1.61.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) last announced its earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $1.41 million for the quarter, compared to analyst estimates of $1.28 million. Lineage Cell Therapeutics had a negative return on equity of 36.30% and a negative net margin of 391.00%. Sell-side analysts forecast that Lineage Cell Therapeutics, Inc. will post -0.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Craig Hallum assumed coverage on shares of Lineage Cell Therapeutics in a research note on Tuesday, August 20th. They issued a “buy” rating and a $4.00 target price for the company.

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.