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

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX - Get Free Report) had its price objective dropped by analysts at Maxim Group from $5.00 to $3.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Maxim Group's price objective points to a potential upside of 417.24% from the company's previous close.

LCTX has been the topic of a number of other research reports. HC Wainwright raised their target price 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 restated a "buy" rating and set a $2.00 target price on shares of Lineage Cell Therapeutics in a research report on Friday, January 3rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Lineage Cell Therapeutics currently has an average rating of "Buy" and an average target price of $4.80.

Lineage Cell Therapeutics Price Performance

Shares of NYSEAMERICAN LCTX traded up $0.05 during midday trading on Friday, reaching $0.58. The company's stock had a trading volume of 1,660,897 shares, compared to its average volume of 4,039,227. Lineage Cell Therapeutics has a one year low of $0.48 and a one year high of $1.61. The company has a market capitalization of $127.84 million, a P/E ratio of -4.83 and a beta of 1.16.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LCTX. Geode Capital Management LLC raised its position in Lineage Cell Therapeutics by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,679,280 shares of the company's stock worth $3,331,000 after purchasing an additional 83,274 shares during the last quarter. State Street Corp raised its position in 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 raised its position in Lineage Cell Therapeutics by 311.3% during the 3rd quarter. Barclays PLC now owns 211,300 shares of the company's stock worth $192,000 after purchasing an additional 159,924 shares during the last quarter. Raffles Associates LP raised its position in Lineage Cell Therapeutics by 35.8% during 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 during the last quarter. Finally, Bank of New York Mellon Corp grew 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 acquiring an additional 114,762 shares during the period. 62.47% of the stock is currently owned by institutional investors.

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.