Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Shares Decline by 1%

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) experienced a 1% drop in its shares during mid-day trading on Friday. The stock reached a low of $0.50 and was last seen trading at the same price. A total of approximately 2,161,888 shares were traded during this period, indicating a significant 100% increase in volume compared to the average daily trading volume of 1,082,880 shares. The stock had previously closed at $0.51.

Insights from Wall Street Analysts

Several research analysts have recently offered their opinions on Lineage Cell Therapeutics. HC Wainwright raised their price target for the company from $7.00 to $9.00, and assigned a "buy" rating according to a research note dated December 4th. Conversely, D. Boral Capital reduced their price target from $3.00 to $2.00 and maintained a "buy" rating in their report from November 20th.

Current Stock Performance

The company currently holds a market capitalization of $110.21 million, with a price-to-earnings ratio of -4.17 and a beta of 1.16.

Hedge Fund Activity Around Lineage Cell Therapeutics

Recent activity from large investors suggests growing interest in Lineage Cell Therapeutics. SG Americas Securities LLC entered a new position during the third quarter amounting to about $46,000. Additionally, in the second quarter, XTX Topco Ltd acquired a stake valued at approximately $61,000, while GSA Capital Partners LLP purchased shares worth about $84,000 during the same quarter. Rhumbline Advisers increased their holdings by 15.1% during the second quarter, bringing their total to 132,491 shares valued at $132,000 after acquiring an additional 17,411 shares. Barclays PLC also significantly boosted its position in Lineage Cell Therapeutics by 311.3% in the third quarter, now owning 211,300 shares valued at $192,000. Overall, institutional investors collectively own 62.47% of the company’s stock.

About Lineage Cell Therapeutics

Lineage Cell Therapeutics, Inc. is a biotechnology firm in the clinical stage that focuses on developing innovative cell therapies. The company addresses unmet medical needs both in the United States and internationally. Notably, it is working on OpRegen, a cell therapy aimed at treating dry age-related macular degeneration, which is currently in Phase 2a clinical trials. Another product in development is OPC1, aimed at treating cervical spinal cord injuries, which is undergoing a Phase 1/2a multicenter clinical trial. Additionally, VAC is an allogeneic cancer immunotherapy using antigen-presenting dendritic cells, which is in the initial stages of clinical trials targeting non-small cell lung cancer.

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