BioTime, Inc. (BTX) Lowered to Sell at BidaskClub
BioTime, Inc. (NYSEMKT:BTX) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
Several other equities research analysts have also commented on BTX. Ladenburg Thalmann Financial Services restated a “buy” rating and issued a $6.50 price objective (up previously from $6.00) on shares of BioTime in a research report on Monday, June 19th. ValuEngine upgraded BioTime from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Finally, Zacks Investment Research upgraded BioTime from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a research report on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $5.33.
BioTime (BTX) opened at 2.79 on Friday. The stock has a market cap of $323.09 million, a P/E ratio of 4.69 and a beta of 1.37. BioTime has a 12-month low of $2.47 and a 12-month high of $3.97. The company has a 50 day moving average of $2.79 and a 200-day moving average of $3.03.
In related news, Director Broadwood Partners, L.P. acquired 150,000 shares of the stock in a transaction on Monday, July 31st. The shares were acquired at an average price of $2.80 per share, for a total transaction of $420,000.00. The purchase was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders acquired 173,896 shares of company stock worth $481,220.
Large investors have recently made changes to their positions in the company. Voya Investment Management LLC lifted its position in shares of BioTime by 38.3% during the 2nd quarter. Voya Investment Management LLC now owns 32,496 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 8,996 shares in the last quarter. American International Group Inc. lifted its position in shares of BioTime by 8.3% during the 1st quarter. American International Group Inc. now owns 39,794 shares of the biotechnology company’s stock valued at $137,000 after buying an additional 3,036 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in shares of BioTime during the 2nd quarter valued at approximately $142,000. Nationwide Fund Advisors lifted its position in shares of BioTime by 2.2% during the 1st quarter. Nationwide Fund Advisors now owns 44,578 shares of the biotechnology company’s stock valued at $154,000 after buying an additional 939 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its position in shares of BioTime by 25.2% during the 2nd quarter. Moors & Cabot Inc. now owns 49,630 shares of the biotechnology company’s stock valued at $154,000 after buying an additional 10,000 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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