BioTime (BTX) Trading 9.2% Higher
Shares of BioTime, Inc. (NYSEAMERICAN:BTX) traded up 9.2% during mid-day trading on Monday . The stock traded as high as $2.80 and last traded at $2.74. 1,118,676 shares traded hands during trading, an increase of 63% from the average session volume of 686,655 shares. The stock had previously closed at $2.51.
Several analysts have issued reports on the company. BidaskClub raised BioTime from a “sell” rating to a “hold” rating in a report on Thursday, September 28th. Zacks Investment Research lowered BioTime from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $5.08.
The stock has a market cap of $318.43, a price-to-earnings ratio of 6.30 and a beta of 2.03.
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of BioTime by 17.0% in the second quarter. Vanguard Group Inc. now owns 3,680,705 shares of the biotechnology company’s stock worth $11,594,000 after buying an additional 534,527 shares in the last quarter. Broadwood Capital Inc. lifted its position in shares of BioTime by 0.6% in the third quarter. Broadwood Capital Inc. now owns 27,279,254 shares of the biotechnology company’s stock worth $77,473,000 after buying an additional 160,000 shares in the last quarter. State Street Corp lifted its position in shares of BioTime by 10.3% in the second quarter. State Street Corp now owns 1,345,379 shares of the biotechnology company’s stock worth $4,238,000 after buying an additional 125,833 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of BioTime in the second quarter worth about $380,000. Finally, IndexIQ Advisors LLC lifted its position in shares of BioTime by 83.1% in the third quarter. IndexIQ Advisors LLC now owns 251,227 shares of the biotechnology company’s stock worth $713,000 after buying an additional 114,003 shares in the last quarter.
BioTime Company Profile
BioTime, Inc is a clinical-stage biotechnology company focused on developing and commercializing products addressing degenerative diseases. Its clinical programs are based on two platform technologies: pluripotent stem cells and cell/drug delivery platform technologies. The foundation of its cell delivery platform is its HyStem cell and drug delivery matrix technology.
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