Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) released its quarterly earnings results on Thursday. The company reported $0.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.07, FiscalAI reports. The firm had revenue of $6.61 million for the quarter, compared to the consensus estimate of $1.96 million. Lineage Cell Therapeutics had a negative return on equity of 72.02% and a negative net margin of 625.53%.

Lineage Cell Therapeutics Stock Down 5.6%

NYSEAMERICAN LCTX traded down $0.11 on Thursday, reaching $1.84. 1,456,710 shares of the stock traded hands, compared to its average volume of 1,117,823. Lineage Cell Therapeutics has a 12 month low of $0.37 and a 12 month high of $2.09. The company has a market cap of $423.81 million, a price-to-earnings ratio of -6.34 and a beta of 1.74. The firm’s fifty day simple moving average is $1.71 and its 200 day simple moving average is $1.64.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Kestra Advisory Services LLC lifted its holdings in Lineage Cell Therapeutics by 174.7% in the 4th quarter. Kestra Advisory Services LLC now owns 27,747 shares of the company’s stock valued at $46,000 after acquiring an additional 17,647 shares during the last quarter. Rhumbline Advisers lifted its stake in Lineage Cell Therapeutics by 9.9% during the first quarter. Rhumbline Advisers now owns 201,447 shares of the company’s stock valued at $91,000 after purchasing an additional 18,092 shares during the last quarter. DLD Asset Management LP bought a new position in shares of Lineage Cell Therapeutics in the fourth quarter valued at $33,000. Raymond James Financial Inc. lifted its position in shares of Lineage Cell Therapeutics by 30.3% during the 3rd quarter. Raymond James Financial Inc. now owns 90,381 shares of the company’s stock valued at $153,000 after acquiring an additional 21,001 shares during the last quarter. Finally, Jain Global LLC lifted its position in shares of Lineage Cell Therapeutics by 202.3% during the 4th quarter. Jain Global LLC now owns 38,851 shares of the company’s stock valued at $65,000 after acquiring an additional 26,000 shares during the last quarter. 62.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LCTX. HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Lineage Cell Therapeutics in a research note on Monday, November 24th. D. Boral Capital reiterated a “buy” rating and set a $2.00 target price on shares of Lineage Cell Therapeutics in a research note on Monday, February 9th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Lineage Cell Therapeutics has a consensus rating of “Buy” and a consensus target price of $4.67.

Lineage Cell Therapeutics Company Profile

Lineage Cell Therapeutics is a clinical-stage biotechnology company developing novel, allogeneic cell therapies built on pluripotent stem cell platforms. The company focuses on three primary therapeutic areas—retinal disease, neural repair and immune-effector cell oncology—leveraging its proprietary manufacturing processes to create off-the-shelf cell therapy candidates designed for broad patient populations.

Its lead candidate, OpRegen, comprises retinal pigment epithelium cells intended to slow or reverse vision loss in patients with geographic atrophy secondary to age-related macular degeneration.