BioTime, Inc. (BTX) Sees Significant Drop in Short Interest
BioTime, Inc. (NYSEMKT:BTX) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 6,767,992 shares, a decline of 0.9% from the October 13th total of 6,827,321 shares. Based on an average daily trading volume, of 417,019 shares, the short-interest ratio is presently 16.2 days. Approximately 5.7% of the shares of the stock are short sold.
In other news, Director Broadwood Partners, L.P. acquired 2,692,307 shares of the stock in a transaction that occurred on Friday, October 13th. The shares were bought at an average cost of $2.60 per share, for a total transaction of $6,999,998.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders purchased 2,716,203 shares of company stock worth $7,061,218.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Family Management Corp lifted its stake in BioTime by 1.4% in the 2nd quarter. Family Management Corp now owns 140,371 shares of the biotechnology company’s stock worth $442,000 after purchasing an additional 2,000 shares in the last quarter. American International Group Inc. lifted its stake in BioTime by 8.3% in the 1st quarter. American International Group Inc. now owns 39,794 shares of the biotechnology company’s stock worth $137,000 after purchasing an additional 3,036 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of BioTime by 14.7% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 57,694 shares of the biotechnology company’s stock valued at $199,000 after buying an additional 7,411 shares during the period. Voya Investment Management LLC raised 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 during the period. Finally, Moors & Cabot Inc. raised 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 during the period.
BioTime (NYSEMKT BTX) traded down $0.13 on Monday, reaching $2.43. 326,397 shares of the company’s stock were exchanged, compared to its average volume of 429,683. BioTime has a twelve month low of $2.19 and a twelve month high of $3.96.
A number of research analysts have weighed in on BTX shares. Zacks Investment Research lowered shares of BioTime from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. BidaskClub lowered shares of BioTime from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 18th. Three analysts have rated the stock with a sell rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $5.33.
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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