Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) Sees Large Growth in Short Interest

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX - Get Free Report) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 26,640,000 shares, an increase of 19.2% from the March 15th total of 22,340,000 shares. Currently, 15.8% of the shares of the stock are sold short. Based on an average trading volume of 1,560,000 shares, the days-to-cover ratio is presently 17.1 days.

Lineage Cell Therapeutics Stock Performance

LCTX traded up $0.03 on Thursday, reaching $0.50. 1,276,966 shares of the company's stock were exchanged, compared to its average volume of 1,319,906. Lineage Cell Therapeutics has a twelve month low of $0.37 and a twelve month high of $1.40. The company's 50 day moving average is $0.52 and its 200-day moving average is $0.65. The company has a market cap of $109.84 million, a price-to-earnings ratio of -4.15 and a beta of 1.21.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. HC Wainwright reissued a "buy" rating and issued a $9.00 price objective on shares of Lineage Cell Therapeutics in a research report on Tuesday, March 11th. Maxim Group dropped their target price on Lineage Cell Therapeutics from $5.00 to $3.00 and set a "buy" rating for the company in a research note on Friday, January 10th. B. Riley decreased their price target on Lineage Cell Therapeutics from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Finally, D. Boral Capital reaffirmed a "buy" rating and set a $2.00 price objective on shares of Lineage Cell Therapeutics in a research note on Tuesday, March 11th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $4.20.

Institutional Trading of Lineage Cell Therapeutics

Large investors have recently added to or reduced their stakes in the stock. ORG Partners LLC acquired a new stake in Lineage Cell Therapeutics during the 1st quarter valued at $47,000. Squarepoint Ops LLC acquired a new stake in Lineage Cell Therapeutics during the 4th quarter valued at approximately $46,000. Two Sigma Advisers LP grew its position in shares of Lineage Cell Therapeutics by 312.2% during the fourth quarter. Two Sigma Advisers LP now owns 86,964 shares of the company's stock worth $44,000 after buying an additional 65,864 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of Lineage Cell Therapeutics in the fourth quarter worth $152,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Lineage Cell Therapeutics in the 4th quarter worth about $519,000. 62.47% of the stock is currently owned by institutional investors and hedge funds.

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.