Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Stock Crosses Above 50-Day Moving Average – Should You Sell?

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $1.01 and traded as high as $1.03. Lineage Cell Therapeutics shares last traded at $1.02, with a volume of 1,031,659 shares changing hands.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating on shares of Lineage Cell Therapeutics in a research note on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $6.25.

Lineage Cell Therapeutics Stock Performance

The stock has a market capitalization of $257.97 million, a price-to-earnings ratio of -5.37 and a beta of 1.68. The firm has a fifty day moving average of $1.01 and a 200-day moving average of $1.31.

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) last released 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 company had revenue of $1.07 million for the quarter, compared to analyst estimates of $1.84 million. Lineage Cell Therapeutics had a negative return on equity of 73.06% and a negative net margin of 246.58%. On average, analysts predict that Lineage Cell Therapeutics, Inc. will post -0.07 EPS for the current year.

Hedge Funds Weigh In On Lineage Cell Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of LCTX. BlackRock Inc. acquired a new stake in Lineage Cell Therapeutics in the second quarter valued at approximately $17,275,000. Defender Capital LLC. lifted its position in shares of Lineage Cell Therapeutics by 0.8% during the third quarter. Defender Capital LLC. now owns 6,648,899 shares of the company’s stock worth $6,354,000 after purchasing an additional 50,000 shares in the last quarter. Raffles Associates LP acquired a new position in shares of Lineage Cell Therapeutics during the second quarter worth $6,809,000. Fifth Third Bancorp boosted its stake in shares of Lineage Cell Therapeutics by 6.5% in the third quarter. Fifth Third Bancorp now owns 4,900,000 shares of the company’s stock valued at $4,683,000 after purchasing an additional 300,000 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in shares of Lineage Cell Therapeutics by 210.6% in the second quarter. Squarepoint Ops LLC now owns 444,774 shares of the company’s stock valued at $583,000 after purchasing an additional 301,584 shares during the period. 62.47% of the stock is owned by institutional investors and hedge funds.

About Lineage Cell Therapeutics

Lineage Cell Therapeutics, Inc is a biotechnology company focused on developing allogeneic cell therapies for unmet medical needs. The company uses its proprietary cell differentiation and manufacturing technologies to create specialized human cells intended to replace, repair or support damaged tissues.

Lineage’s lead program, OpRegen, is an investigational retinal pigment epithelium cell replacement therapy being developed for geographic atrophy, an advanced form of dry age-related macular degeneration.