Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) Sees Large Increase in Short Interest

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 26,640,000 shares, an increase of 19.2% from the March 15th total of 22,340,000 shares. Approximately 15.8% of the shares of the company are sold short. Based on an average daily volume of 1,560,000 shares, the days-to-cover ratio is presently 17.1 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in Lineage Cell Therapeutics by 35.5% during the 4th quarter. SG Americas Securities LLC now owns 68,973 shares of the company’s stock worth $35,000 after acquiring an additional 18,053 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Lineage Cell Therapeutics by 49.5% during the fourth quarter. HighTower Advisors LLC now owns 57,706 shares of the company’s stock worth $29,000 after purchasing an additional 19,100 shares in the last quarter. Barclays PLC boosted its stake in shares of Lineage Cell Therapeutics by 10.8% in the fourth quarter. Barclays PLC now owns 234,069 shares of the company’s stock valued at $118,000 after purchasing an additional 22,769 shares during the period. Fort Sheridan Advisors LLC grew its holdings in shares of Lineage Cell Therapeutics by 71.5% in the fourth quarter. Fort Sheridan Advisors LLC now owns 55,177 shares of the company’s stock valued at $28,000 after purchasing an additional 23,000 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Lineage Cell Therapeutics by 33.0% during the 4th quarter. Wells Fargo & Company MN now owns 94,894 shares of the company’s stock worth $48,000 after buying an additional 23,527 shares during the period. Hedge funds and other institutional investors own 62.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LCTX shares. B. Riley decreased their target price on Lineage Cell Therapeutics from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. D. Boral Capital reaffirmed a “buy” rating and set a $2.00 target price on shares of Lineage Cell Therapeutics in a research note on Tuesday, March 11th. Maxim Group decreased their price target 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 restated a “buy” rating and set a $9.00 price objective on shares of Lineage Cell Therapeutics in a research report on Tuesday, March 11th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $4.20.

Lineage Cell Therapeutics Stock Down 2.4 %

Shares of NYSEAMERICAN LCTX traded down $0.01 during midday trading on Monday, reaching $0.40. 1,567,967 shares of the stock were exchanged, compared to its average volume of 1,314,536. The firm has a 50-day simple moving average of $0.53 and a two-hundred day simple moving average of $0.66. Lineage Cell Therapeutics has a twelve month low of $0.37 and a twelve month high of $1.40. The firm has a market cap of $88.17 million, a price-to-earnings ratio of -3.33 and a beta of 1.21.

About Lineage Cell Therapeutics

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.