HC Wainwright set a $4.00 price target on BioTime (NYSEAMERICAN:BTX) in a report released on Wednesday, July 3rd, TipRanks reports. The brokerage currently has a buy rating on the biotechnology company’s stock.
BTX has been the subject of several other research reports. Zacks Investment Research cut EXACT Sciences from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Raymond James assumed coverage on Adverum Biotechnologies in a research note on Thursday, June 13th. They set a market perform rating for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. BioTime presently has a consensus rating of Buy and a consensus target price of $3.38.
BTX traded down $0.04 on Wednesday, reaching $1.10. 279,635 shares of the company’s stock were exchanged, compared to its average volume of 747,112. BioTime has a twelve month low of $0.66 and a twelve month high of $2.81.
BioTime (NYSEAMERICAN:BTX) last issued its quarterly earnings data on Thursday, May 9th. The biotechnology company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.36. The firm had revenue of $0.93 million during the quarter, compared to analyst estimates of $0.66 million.
In other BioTime news, major shareholder Biotime Inc sold 2,250,000 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $2.00, for a total value of $4,500,000.00. Following the sale, the insider now directly owns 12,424,244 shares of the company’s stock, valued at $24,848,488. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its holdings in BioTime by 515.3% during the first quarter. BNP Paribas Arbitrage SA now owns 25,171 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 21,080 shares during the period. Moors & Cabot Inc. grew its holdings in BioTime by 30.9% during the second quarter. Moors & Cabot Inc. now owns 38,150 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 9,000 shares during the period. LPL Financial LLC grew its holdings in BioTime by 383.4% during the fourth quarter. LPL Financial LLC now owns 51,504 shares of the biotechnology company’s stock worth $47,000 after acquiring an additional 40,850 shares during the period. Jane Street Group LLC grew its holdings in BioTime by 191.8% during the fourth quarter. Jane Street Group LLC now owns 82,630 shares of the biotechnology company’s stock worth $76,000 after acquiring an additional 54,312 shares during the period. Finally, Rhumbline Advisers grew its holdings in BioTime by 43.7% during the fourth quarter. Rhumbline Advisers now owns 128,217 shares of the biotechnology company’s stock worth $117,000 after acquiring an additional 38,963 shares during the period.
BioTime Company Profile
BioTime, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing therapies for the treatment of degenerative diseases in the United States and internationally. 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; OPC1, an oligodendrocyte progenitor cell therapy that is in Phase I/IIa multicenter clinical trial for the treatment of acute spinal cord injuries; and VAC2, an allogeneic cancer immunotherapy of antigen-presenting dendritic cells, which is in Phase I clinical trial to treat non-small cell lung cancer.
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