BidaskClub Lowers BioTime, Inc. (BTX) to Sell
BidaskClub lowered shares of BioTime, Inc. (NYSEMKT:BTX) from a hold rating to a sell rating in a report issued on Friday.
A number of other brokerages have also weighed in on BTX. ValuEngine raised BioTime from a sell rating to a hold rating in a report on Friday, June 23rd. Ladenburg Thalmann Financial Services reaffirmed a buy rating and set a $6.50 price objective (up previously from $6.00) on shares of BioTime in a report on Monday, June 19th. Finally, Zacks Investment Research raised BioTime from a hold rating to a buy rating and set a $3.50 price objective on the stock in a report on Tuesday, July 18th. Three analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. BioTime presently has an average rating of Hold and a consensus price target of $5.33.
Shares of BioTime (BTX) opened at 2.80 on Friday. The company has a 50-day moving average of $2.80 and a 200-day moving average of $3.02. BioTime has a 1-year low of $2.47 and a 1-year high of $3.96. The firm has a market cap of $324.25 million, a PE ratio of 4.71 and a beta of 1.37.
In other news, Director Broadwood Partners, L.P. bought 10,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were bought at an average price of $2.60 per share, with a total value of $26,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 173,896 shares of company stock worth $481,220 in the last three months.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in BioTime by 159.5% during the first quarter. Geode Capital Management LLC now owns 1,043,378 shares of the biotechnology company’s stock worth $3,599,000 after buying an additional 641,358 shares during the period. Vanguard Group Inc. lifted its position in BioTime by 17.0% during the second quarter. Vanguard Group Inc. now owns 3,680,705 shares of the biotechnology company’s stock worth $11,594,000 after buying an additional 534,527 shares during the period. IndexIQ Advisors LLC purchased a new position in BioTime during the second quarter worth about $431,000. State Street Corp lifted its position in BioTime by 10.3% during the second quarter. State Street Corp now owns 1,345,379 shares of the biotechnology company’s stock worth $4,238,000 after buying an additional 125,833 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new position in BioTime during the second quarter worth about $380,000.
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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