Short Interest in Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) Rises By 13.5%

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 26,030,000 shares, a growth of 13.5% from the December 15th total of 22,940,000 shares. Based on an average trading volume of 2,170,000 shares, the days-to-cover ratio is currently 12.0 days.

Hedge Funds Weigh In On Lineage Cell Therapeutics

A number of large investors have recently made changes to their positions in LCTX. Bank of New York Mellon Corp grew its holdings in shares of Lineage Cell Therapeutics by 35.7% in 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. Rhumbline Advisers boosted its position in Lineage Cell Therapeutics by 15.1% during the second 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. Renaissance Technologies LLC grew its holdings in Lineage Cell Therapeutics by 10.0% in the second quarter. Renaissance Technologies LLC now owns 583,622 shares of the company’s stock valued at $582,000 after purchasing an additional 53,022 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Lineage Cell Therapeutics in the second quarter valued at $61,000. Finally, Raffles Associates LP raised its stake in shares of 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 buying an additional 1,147,800 shares during the last quarter. Hedge funds and other institutional investors own 62.47% of the company’s stock.

Lineage Cell Therapeutics Price Performance

Shares of Lineage Cell Therapeutics stock traded up $0.02 during trading on Friday, reaching $0.59. The company’s stock had a trading volume of 714,071 shares, compared to its average volume of 2,333,271. The company has a market cap of $129.47 million, a PE ratio of -4.90 and a beta of 1.18. Lineage Cell Therapeutics has a 12-month low of $0.48 and a 12-month high of $1.61.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. D. Boral Capital reaffirmed a “buy” rating and issued a $2.00 target price on shares of Lineage Cell Therapeutics in a report on Friday, January 3rd. Maxim Group dropped their price objective on shares of Lineage Cell Therapeutics from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, HC Wainwright raised their target price on shares of Lineage Cell Therapeutics from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $4.80.

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.