BioTime, Inc. (BTX) Upgraded to Hold by BidaskClub
BidaskClub upgraded shares of BioTime, Inc. (NYSEMKT:BTX) from a sell rating to a hold rating in a research note issued to investors on Thursday.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of BioTime from a hold rating to a buy rating and set a $3.50 price objective for the company in a research report on Tuesday, July 18th. Ladenburg Thalmann Financial Services restated a buy rating and set a $6.50 target price (up from $6.00) on shares of BioTime in a research report on Monday, June 19th. Finally, ValuEngine upgraded BioTime from a sell rating to a hold rating in a research report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $5.33.
Shares of BioTime (BTX) opened at 2.84 on Thursday. The company has a market cap of $328.88 million, a P/E ratio of 4.77 and a beta of 1.37. The company’s 50-day moving average price is $2.75 and its 200 day moving average price is $3.06. BioTime has a 52 week low of $2.47 and a 52 week high of $3.97.
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In related news, Director Broadwood Partners, L.P. bought 10,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were acquired at an average price of $2.60 per share, for a total transaction of $26,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have bought 173,896 shares of company stock valued at $481,220.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Family Management Corp grew its stake in BioTime by 1.4% during 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. Moors & Cabot Inc. raised its holdings in BioTime by 25.2% in the 2nd quarter. Moors & Cabot Inc. now owns 49,630 shares of the biotechnology company’s stock valued at $154,000 after acquiring an additional 10,000 shares during the last quarter. State Street Corp raised its holdings in BioTime by 10.3% in the 2nd quarter. State Street Corp now owns 1,345,379 shares of the biotechnology company’s stock valued at $4,238,000 after acquiring an additional 125,833 shares during the last quarter. Williams Jones & Associates LLC raised its holdings in BioTime by 14.6% in the 2nd quarter. Williams Jones & Associates LLC now owns 80,740 shares of the biotechnology company’s stock valued at $254,000 after acquiring an additional 10,290 shares during 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 during 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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