Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Stock Price Down 29% – Should You Sell?

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX)’s stock price traded down 29% during mid-day trading on Wednesday . The company traded as low as $0.61 and last traded at $0.64. 9,878,295 shares traded hands during trading, an increase of 1,115% from the average session volume of 812,923 shares. The stock had previously closed at $0.90.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum assumed coverage on shares of Lineage Cell Therapeutics in a research note on Tuesday, August 20th. They issued a “buy” rating and a $4.00 price target on the stock.

Lineage Cell Therapeutics Price Performance

The firm has a market capitalization of $95.16 million, a PE ratio of -4.87 and a beta of 1.28.

Institutional Trading of Lineage Cell Therapeutics

Several large investors have recently bought and sold shares of LCTX. Price T Rowe Associates Inc. MD lifted its position in Lineage Cell Therapeutics by 77.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 161,314 shares of the company’s stock valued at $239,000 after acquiring an additional 70,418 shares during the last quarter. Comerica Bank raised its holdings in shares of Lineage Cell Therapeutics by 84,745.8% in the first quarter. Comerica Bank now owns 250,295 shares of the company’s stock valued at $370,000 after buying an additional 250,000 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Lineage Cell Therapeutics by 35.7% during the second quarter. Bank of New York Mellon Corp now owns 435,958 shares of the company’s stock worth $435,000 after buying an additional 114,762 shares during the period. Rhumbline Advisers increased its position in Lineage Cell Therapeutics by 15.1% in the 2nd quarter. Rhumbline Advisers now owns 132,491 shares of the company’s stock valued at $132,000 after acquiring an additional 17,411 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Lineage Cell Therapeutics by 10.0% during the 2nd quarter. Renaissance Technologies LLC now owns 583,622 shares of the company’s stock valued at $582,000 after acquiring an additional 53,022 shares during the last quarter. Hedge funds and other institutional investors own 62.47% of the company’s stock.

Lineage Cell Therapeutics Company Profile

Lineage Cell Therapeutics, Inc, a clinical-stage biotechnology company, develops novel cell therapies for unmet medical needs in the United States and internationally. The company develops OpRegen, an allogeneic retinal pigment epithelium cell replacement therapy, which is in Phase 2a clinical trial for the treatment of the dry age-related macular degeneration; OPC1, an allogeneic oligodendrocyte progenitor cell therapy that is in Phase 1/2a multicenter clinical trial for the treatment of cervical spinal cord injuries; and VAC, an allogeneic cancer immunotherapy of antigen-presenting dendritic cells, which is in Phase I clinical trial to treat non-small cell lung cancer.