Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Trading Down 7.4% - Here's Why

Shares of Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX - Get Free Report) fell 7.4% during trading on Monday . The company traded as low as $0.38 and last traded at $0.40. 1,827,043 shares traded hands during trading, an increase of 40% from the average session volume of 1,309,622 shares. The stock had previously closed at $0.43.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. D. Boral Capital reissued a "buy" rating and set a $2.00 target price on shares of Lineage Cell Therapeutics in a research note on Tuesday, March 11th. B. Riley dropped their target price on shares of 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. Maxim Group decreased their price target on shares of 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. Finally, HC Wainwright reiterated a "buy" rating and issued a $9.00 price target on shares of Lineage Cell Therapeutics in a report on Tuesday, March 11th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $4.20.

Lineage Cell Therapeutics Stock Performance

The firm's 50 day moving average is $0.55 and its 200-day moving average is $0.67. The stock has a market capitalization of $103.55 million, a price-to-earnings ratio of -3.92 and a beta of 1.21.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Fort Sheridan Advisors LLC boosted its stake in Lineage Cell Therapeutics by 71.5% during the 4th quarter. Fort Sheridan Advisors LLC now owns 55,177 shares of the company's stock worth $28,000 after purchasing an additional 23,000 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Lineage Cell Therapeutics by 49.5% in the fourth quarter. HighTower Advisors LLC now owns 57,706 shares of the company's stock worth $29,000 after buying an additional 19,100 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in Lineage Cell Therapeutics during the fourth quarter worth about $29,000. SG Americas Securities LLC grew its stake in Lineage Cell Therapeutics by 35.5% during the 4th quarter. SG Americas Securities LLC now owns 68,973 shares of the company's stock valued at $35,000 after acquiring an additional 18,053 shares in the last quarter. Finally, Two Sigma Advisers LP grew its stake in Lineage Cell Therapeutics by 312.2% during the 4th quarter. Two Sigma Advisers LP now owns 86,964 shares of the company's stock valued at $44,000 after acquiring an additional 65,864 shares in the last quarter. Institutional investors and hedge funds 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.