Maxim Group Cuts Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Price Target to $3.00

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) had its target price dropped by stock analysts at Maxim Group from $5.00 to $3.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Maxim Group’s price target would suggest a potential upside of 454.12% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. HC Wainwright raised their price target on shares of Lineage Cell Therapeutics from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. D. Boral Capital reaffirmed a “buy” rating and issued a $2.00 price target on shares of Lineage Cell Therapeutics in a research note on Friday, January 3rd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $4.80.

Lineage Cell Therapeutics Price Performance

LCTX traded up $0.01 during trading on Friday, reaching $0.54. 776,765 shares of the company’s stock were exchanged, compared to its average volume of 3,874,053. The company has a market capitalization of $119.34 million, a P/E ratio of -4.51 and a beta of 1.16. Lineage Cell Therapeutics has a fifty-two week low of $0.48 and a fifty-two week high of $1.61.

Hedge Funds Weigh In On Lineage Cell Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of LCTX. SG Americas Securities LLC bought a new position in Lineage Cell Therapeutics in the 3rd quarter worth approximately $46,000. XTX Topco Ltd bought a new stake in shares of Lineage Cell Therapeutics during the second quarter worth $61,000. GSA Capital Partners LLP acquired a new position in shares of Lineage Cell Therapeutics during the third quarter valued at $84,000. Rhumbline Advisers boosted its holdings in Lineage Cell Therapeutics by 15.1% in the second quarter. Rhumbline Advisers now owns 132,491 shares of the company’s stock valued at $132,000 after acquiring an additional 17,411 shares during the last quarter. Finally, Barclays PLC increased its position in Lineage Cell Therapeutics by 311.3% in the third quarter. Barclays PLC now owns 211,300 shares of the company’s stock worth $192,000 after purchasing an additional 159,924 shares during the period. Institutional investors and hedge funds own 62.47% of the company’s stock.

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.