BioTime, Inc. (NYSEAMERICAN:BTX) has been given an average rating of “Buy” by the seven brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $3.05.
BTX has been the subject of a number of analyst reports. Raymond James assumed coverage on Adverum Biotechnologies in a research report on Thursday, June 13th. They set a “market perform” rating for the company. Zacks Investment Research lowered EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, HC Wainwright set a $4.00 target price on BioTime and gave the stock a “buy” rating in a report on Thursday, July 11th.
BTX stock traded up $0.03 on Thursday, reaching $1.12. 291,022 shares of the company traded hands, compared to its average volume of 740,312. BioTime has a one year low of $0.66 and a one year high of $2.81.
BioTime (NYSEAMERICAN:BTX) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.36. The company had revenue of $0.93 million for the quarter, compared to the consensus estimate of $0.66 million.
In other BioTime news, major shareholder Biotime Inc sold 2,250,000 shares of BioTime 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 completion of the sale, the insider now owns 12,424,244 shares of the company’s stock, valued at approximately $24,848,488. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in shares of BioTime by 515.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 25,171 shares of the biotechnology company’s stock worth $33,000 after buying an additional 21,080 shares during the last quarter. Moors & Cabot Inc. lifted its position in BioTime by 30.9% during the second quarter. Moors & Cabot Inc. now owns 38,150 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 9,000 shares in the last quarter. LPL Financial LLC lifted its position in BioTime by 383.4% during the fourth quarter. LPL Financial LLC now owns 51,504 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 40,850 shares in the last quarter. Jane Street Group LLC lifted its position in BioTime by 191.8% during the fourth quarter. Jane Street Group LLC now owns 82,630 shares of the biotechnology company’s stock valued at $76,000 after purchasing an additional 54,312 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in BioTime by 43.7% during the fourth quarter. Rhumbline Advisers now owns 128,217 shares of the biotechnology company’s stock valued at $117,000 after purchasing an additional 38,963 shares in the last quarter.
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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