BioTime (BTX) Announces Earnings Results

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BioTime (NYSEAMERICAN:BTX) issued its earnings results on Thursday. The biotechnology company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.01), Morningstar.com reports. The business had revenue of $0.98 million during the quarter, compared to the consensus estimate of $0.75 million.

Shares of NYSEAMERICAN BTX traded down $0.07 during midday trading on Friday, hitting $1.92. 629,115 shares of the company’s stock were exchanged, compared to its average volume of 464,116. BioTime has a twelve month low of $1.80 and a twelve month high of $3.16.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its position in BioTime by 20.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 173,856 shares of the biotechnology company’s stock worth $468,000 after purchasing an additional 30,056 shares during the period. Northern Trust Corp lifted its position in BioTime by 5.2% in the first quarter. Northern Trust Corp now owns 966,448 shares of the biotechnology company’s stock worth $2,600,000 after purchasing an additional 47,957 shares during the period. Bank of New York Mellon Corp lifted its position in BioTime by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 744,554 shares of the biotechnology company’s stock worth $1,534,000 after purchasing an additional 33,350 shares during the period. Destination Wealth Management acquired a new stake in BioTime in the third quarter worth approximately $1,237,000. Finally, BlackRock Inc. lifted its position in BioTime by 3.1% in the third quarter. BlackRock Inc. now owns 6,102,467 shares of the biotechnology company’s stock worth $14,340,000 after purchasing an additional 185,826 shares during the period.

Separately, Zacks Investment Research downgraded BioTime from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd.

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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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Earnings History for BioTime (NYSEAMERICAN:BTX)

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