BioTime, Inc. (BTX) Lowered to Strong Sell at BidaskClub
BidaskClub lowered shares of BioTime, Inc. (NYSEMKT:BTX) from a sell rating to a strong sell rating in a research report report published on Wednesday morning.
A number of other research firms also recently weighed in on BTX. ValuEngine upgraded BioTime from a sell rating to a hold rating in a research note on Friday, June 23rd. Zacks Investment Research upgraded BioTime from a hold rating to a buy rating and set a $3.50 price target for the company in a research note on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. BioTime has a consensus rating of Hold and an average target price of $5.33.
BioTime (NYSEMKT BTX) traded up 0.74% during midday trading on Wednesday, reaching $2.71. The company had a trading volume of 221,167 shares. The company has a market cap of $313.83 million, a PE ratio of 4.55 and a beta of 1.37. The company’s 50-day moving average is $2.81 and its 200 day moving average is $2.99. BioTime has a 52-week low of $2.47 and a 52-week high of $3.96.
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In related news, Director Broadwood Partners, L.P. acquired 10,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was purchased at an average cost of $2.60 per share, with a total value of $26,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have purchased 2,866,203 shares of company stock valued at $7,481,218.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nationwide Fund Advisors raised its holdings in BioTime by 2.2% in the 1st quarter. Nationwide Fund Advisors now owns 44,578 shares of the biotechnology company’s stock valued at $154,000 after acquiring an additional 939 shares in the last quarter. Family Management Corp raised its holdings in BioTime by 1.4% in the 2nd quarter. Family Management Corp now owns 140,371 shares of the biotechnology company’s stock valued at $442,000 after acquiring an additional 2,000 shares in the last quarter. American International Group Inc. raised its holdings in BioTime by 8.3% in the 1st quarter. American International Group Inc. now owns 39,794 shares of the biotechnology company’s stock valued at $137,000 after acquiring an additional 3,036 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in BioTime by 14.7% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 57,694 shares of the biotechnology company’s stock valued at $199,000 after acquiring an additional 7,411 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in BioTime by 38.3% in the 2nd quarter. Voya Investment Management LLC now owns 32,496 shares of the biotechnology company’s stock valued at $102,000 after acquiring an additional 8,996 shares in the last quarter.
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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