Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Posts Quarterly Earnings Results, Misses Estimates By $0.11 EPS

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) released its quarterly earnings data on Thursday. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.11), FiscalAI reports. Lineage Cell Therapeutics had a negative net margin of 374.84% and a negative return on equity of 20.00%. The firm had revenue of $3.68 million during the quarter, compared to the consensus estimate of $2.30 million.

Lineage Cell Therapeutics Stock Up 1.7%

Shares of LCTX opened at $1.76 on Friday. The company has a market cap of $401.91 million, a price-to-earnings ratio of -9.78 and a beta of 1.77. Lineage Cell Therapeutics has a twelve month low of $0.37 and a twelve month high of $2.09. The company has a 50 day moving average of $1.60 and a two-hundred day moving average of $1.10.

Institutional Investors Weigh In On Lineage Cell Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in LCTX. Vanguard Group Inc. boosted its stake in Lineage Cell Therapeutics by 6.2% during the third quarter. Vanguard Group Inc. now owns 9,006,930 shares of the company’s stock worth $15,222,000 after buying an additional 524,057 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in shares of Lineage Cell Therapeutics during the 2nd quarter worth $44,000. Brevan Howard Capital Management LP acquired a new position in shares of Lineage Cell Therapeutics during the 2nd quarter valued at about $281,000. Raymond James Financial Inc. grew its holdings in shares of Lineage Cell Therapeutics by 136.2% in the second quarter. Raymond James Financial Inc. now owns 69,380 shares of the company’s stock valued at $63,000 after purchasing an additional 40,009 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new stake in Lineage Cell Therapeutics during the second quarter worth about $35,000. Institutional investors and hedge funds own 62.47% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, D. Boral Capital restated a “buy” rating and issued a $2.00 price target on shares of Lineage Cell Therapeutics in a report on Wednesday, August 27th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $4.25.

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.