BioTime, Inc. (BTX) Upgraded by BidaskClub to “Sell”
BioTime, Inc. (NYSEMKT:BTX) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Friday.
Several other brokerages also recently weighed in on BTX. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and set a $6.50 target price (up from $6.00) on shares of BioTime in a research note on Monday, June 19th. Zacks Investment Research downgraded BioTime from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Finally, ValuEngine raised BioTime from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $5.33.
BioTime (NYSEMKT BTX) traded up 2.0985% during midday trading on Friday, hitting $2.7975. 59,666 shares of the stock traded hands. The company has a market capitalization of $323.96 million, a price-to-earnings ratio of 4.7017 and a beta of 1.37. BioTime has a 52 week low of $2.47 and a 52 week high of $4.01. The stock’s 50-day moving average price is $2.82 and its 200 day moving average price is $3.09.
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In other news, Director Broadwood Partners, L.P. purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average cost of $2.60 per share, for a total transaction of $26,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have bought 173,896 shares of company stock valued at $481,840.
Hedge funds have recently modified their holdings of the company. State Street Corp boosted its stake in shares of BioTime by 9.3% in the fourth quarter. State Street Corp now owns 1,045,826 shares of the biotechnology company’s stock valued at $3,775,000 after buying an additional 89,189 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of BioTime by 19.4% in the first quarter. Jane Street Group LLC now owns 92,685 shares of the biotechnology company’s stock valued at $320,000 after buying an additional 15,080 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of BioTime by 2.2% in the first quarter. Nationwide Fund Advisors now owns 44,578 shares of the biotechnology company’s stock valued at $154,000 after buying an additional 939 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of BioTime by 306.7% in the first quarter. Russell Investments Group Ltd. now owns 96,303 shares of the biotechnology company’s stock valued at $333,000 after buying an additional 72,624 shares during the last quarter. Finally, ClariVest Asset Management LLC bought a new stake in shares of BioTime during the first quarter valued at about $169,000.
BioTime, Inc is a clinical-stage biotechnology company focused on developing and commercializing products addressing degenerative diseases. Its clinical programs are based on two platform technologies: pluripotent stem cells and cell/drug delivery platform technologies. The foundation of its cell delivery platform is its HyStem cell and drug delivery matrix technology.
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