Raffles Associates LP Makes New $6.81 Million Investment in Lineage Cell Therapeutics, Inc. $LCTX

Raffles Associates LP bought a new position in Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) in the 2nd quarter, Holdings Channel.com reports. The firm bought 5,197,788 shares of the company’s stock, valued at approximately $6,809,000. Lineage Cell Therapeutics comprises 5.6% of Raffles Associates LP’s portfolio, making the stock its 5th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kestra Advisory Services LLC raised its holdings in Lineage Cell Therapeutics by 174.7% during the fourth quarter. Kestra Advisory Services LLC now owns 27,747 shares of the company’s stock worth $46,000 after purchasing an additional 17,647 shares in the last quarter. Rhumbline Advisers lifted its position in Lineage Cell Therapeutics by 9.9% in the first quarter. Rhumbline Advisers now owns 201,447 shares of the company’s stock valued at $91,000 after purchasing an additional 18,092 shares during the period. DLD Asset Management LP acquired a new stake in Lineage Cell Therapeutics in the fourth quarter valued at about $33,000. Raymond James Financial Inc. boosted its holdings in Lineage Cell Therapeutics by 30.3% in the 3rd quarter. Raymond James Financial Inc. now owns 90,381 shares of the company’s stock valued at $153,000 after purchasing an additional 21,001 shares in the last quarter. Finally, Jain Global LLC boosted its holdings in Lineage Cell Therapeutics by 202.3% in the 4th quarter. Jain Global LLC now owns 38,851 shares of the company’s stock valued at $65,000 after purchasing an additional 26,000 shares in the last quarter. Hedge funds and other institutional investors own 62.47% of the company’s stock.

Lineage Cell Therapeutics Stock Up 3.7%

Shares of LCTX opened at $1.13 on Wednesday. The company has a 50-day simple moving average of $1.17 and a 200-day simple moving average of $1.40. The company has a market capitalization of $285.79 million, a PE ratio of -5.95 and a beta of 1.53. Lineage Cell Therapeutics, Inc. has a 52-week low of $1.00 and a 52-week high of $2.09.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $1.07 million during the quarter, compared to analysts’ expectations of $1.84 million. Lineage Cell Therapeutics had a negative net margin of 246.58% and a negative return on equity of 73.06%. On average, research analysts anticipate that Lineage Cell Therapeutics, Inc. will post -0.08 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group assumed coverage on Lineage Cell Therapeutics in a research note on Tuesday, April 28th. They set a “buy” rating and a $9.00 target price for the company. HC Wainwright reissued a “buy” rating on shares of Lineage Cell Therapeutics in a report on Tuesday, July 14th. Finally, D. Boral Capital restated a “buy” rating and issued a $3.00 price target on shares of Lineage Cell Therapeutics in a research note on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Lineage Cell Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $6.25.

About Lineage Cell Therapeutics

Lineage Cell Therapeutics is a clinical-stage biotechnology company developing novel, allogeneic cell therapies built on pluripotent stem cell platforms. The company focuses on three primary therapeutic areas—retinal disease, neural repair and immune-effector cell oncology—leveraging its proprietary manufacturing processes to create off-the-shelf cell therapy candidates designed for broad patient populations.

Its lead candidate, OpRegen, comprises retinal pigment epithelium cells intended to slow or reverse vision loss in patients with geographic atrophy secondary to age-related macular degeneration.