BioTime (BTX) Announces Earnings Results, Hits Expectations
BioTime (NYSEAMERICAN:BTX) released its earnings results on Thursday. The biotechnology company reported ($0.07) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.07), Morningstar.com reports. The firm had revenue of $0.76 million during the quarter, compared to the consensus estimate of $0.74 million.
Shares of NYSEAMERICAN BTX traded down $0.02 during trading on Friday, reaching $1.53. The company had a trading volume of 836,280 shares, compared to its average volume of 1,015,260. BioTime has a 12-month low of $0.66 and a 12-month high of $2.81.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BTX. IndexIQ Advisors LLC lifted its holdings in shares of BioTime by 3.9% during the third quarter. IndexIQ Advisors LLC now owns 845,072 shares of the biotechnology company’s stock valued at $1,977,000 after purchasing an additional 31,918 shares in the last quarter. Vanguard Group Inc lifted its holdings in shares of BioTime by 0.6% during the third quarter. Vanguard Group Inc now owns 4,467,698 shares of the biotechnology company’s stock valued at $10,499,000 after purchasing an additional 27,841 shares in the last quarter. Destination Wealth Management bought a new position in shares of BioTime during the third quarter valued at $1,237,000. Bridgeway Capital Management Inc. lifted its holdings in shares of BioTime by 1,066.5% during the third quarter. Bridgeway Capital Management Inc. now owns 190,700 shares of the biotechnology company’s stock valued at $448,000 after purchasing an additional 174,352 shares in the last quarter. Finally, Defender Capital LLC. bought a new position in shares of BioTime during the fourth quarter valued at $3,629,000.
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BioTime Company Profile
BioTime, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing products addressing degenerative diseases based on pluripotent stem cells and HyStem cell/drug delivery platform technologies primarily in the United States and Israel. The company's lead product candidates include OpRegen, a retinal pigment epithelium cell replacement therapy, which is in Phase I/IIa multicenter trial for the treatment of the dry age-related macular degeneration; and Renevia, a facial aesthetics product that is in pivotal clinical trial for the treatment of HIV-associated facial lipoatrophy.
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