B. Riley Lowers Price Target for Lineage Cell Therapeutics Stock

Research analysts from B. Riley have revised their price target for Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) from $4.00 to $3.00. This change was reported in a research note released on Friday, where the analysts maintained a "buy" rating for the stock. The new target price suggests a substantial potential upside of approximately 476.92% based on the company's recent closing price.

Other analysts have also published their assessments regarding Lineage Cell Therapeutics. For instance, HC Wainwright reaffirmed a "buy" rating with a price target of $9.00 during a report on Tuesday. On the same day, Maxim Group reduced their target price for the company from $5.00 to $3.00 while upholding a "buy" rating. Additionally, D. Boral Capital issued a "buy" rating with a target price of $2.00 in a report released earlier this week. Currently, five analysts have rated the stock as a buy, leading to a consensus rating of "Buy" and an average target price of $4.20, according to data sourced from MarketBeat.com.

Lineage Cell Therapeutics Stock Overview

On Friday, shares of Lineage Cell Therapeutics opened at $0.52. The company has a market capitalization of approximately $114.62 million, and its price-to-earnings ratio stands at -4.33. The stock has fluctuated between a low of $0.48 and a high of $1.61 over the past year, with a 50-day moving average price of $0.60.

Institutional Investment Trends

Recent activity among institutional investors and hedge funds indicates a growing interest in Lineage Cell Therapeutics. Defender Capital LLC increased its stake by 19.2% in the last quarter, acquiring an additional 961,150 shares and bringing its total holding to 5,963,348 shares valued at $2,997,000. Meanwhile, Geode Capital Management LLC raised its stake by 2.3%, now owning 3,679,280 shares worth about $3,331,000. Barclays PLC made a significant move by boosting its stake by 311.3%, acquiring 211,300 shares valued at $192,000. State Street Corp also increased its holdings by 1.8%, acquiring 45,483 additional shares to reach a total of 2,608,352 shares worth approximately $2,361,000. Lastly, Atria Wealth Solutions Inc. purchased a new position in the company during the fourth quarter, valued at around $29,000. Collectively, institutional investors hold about 62.47% of the company's shares.

Company Information

Lineage Cell Therapeutics, Inc. is a clinical-stage biotechnology firm focusing on innovative cell therapies aimed at addressing unmet medical needs both domestically and internationally. The company is developing several therapies, including OpRegen, a cell replacement therapy targeting dry age-related macular degeneration, currently in Phase 2a clinical trials. They are also producing OPC1, which is aimed at treating cervical spinal cord injuries and is in a Phase 1/2a multicenter clinical trial. Additionally, Lineage is working on VAC, a cancer immunotherapy based on antigen-presenting dendritic cells, which is currently in Phase I clinical trials for the treatment of non-small cell lung cancer.

Lineage, Therapeutics, Stock