Vanguard Group Inc. Purchases 413,073 Shares of BioTime, Inc. (BTX)
Vanguard Group Inc. boosted its position in BioTime, Inc. (NYSEMKT:BTX) by 15.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,146,178 shares of the biotechnology company’s stock after buying an additional 413,073 shares during the period. Vanguard Group Inc. owned about 3.06% of BioTime worth $10,855,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of BTX. American International Group Inc. increased its stake in shares of BioTime by 8.3% in the first quarter. American International Group Inc. now owns 39,794 shares of the biotechnology company’s stock worth $137,000 after buying an additional 3,036 shares during the period. Nationwide Fund Advisors increased its stake in shares of BioTime by 2.2% in the first quarter. Nationwide Fund Advisors now owns 44,578 shares of the biotechnology company’s stock worth $154,000 after buying an additional 939 shares during the period. ClariVest Asset Management LLC purchased a new stake in shares of BioTime during the first quarter worth approximately $169,000. Nine Chapters Capital Management LLC purchased a new stake in shares of BioTime during the first quarter worth approximately $196,000. Finally, Russell Investments Group Ltd. increased its stake in shares of BioTime by 306.7% in the first quarter. Russell Investments Group Ltd. now owns 96,303 shares of the biotechnology company’s stock worth $333,000 after buying an additional 72,624 shares during the period.
BioTime, Inc. (BTX) traded down 2.73% during midday trading on Friday, reaching $2.85. 121,777 shares of the company were exchanged. The firm’s 50-day moving average price is $2.78 and its 200 day moving average price is $3.09. The stock has a market capitalization of $330.04 million, a price-to-earnings ratio of 4.79 and a beta of 1.37. BioTime, Inc. has a 52-week low of $2.47 and a 52-week high of $4.01.
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A number of equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of BioTime from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a report on Tuesday, July 18th. BidaskClub downgraded shares of BioTime from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. ValuEngine downgraded shares of BioTime from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Ladenburg Thalmann Financial Services restated a “buy” rating and issued a $6.50 target price (up from $6.00) on shares of BioTime in a report on Monday, June 19th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. BioTime presently has an average rating of “Hold” and a consensus target price of $5.33.
In other BioTime 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 bought at an average price of $2.60 per share, for a total transaction of $26,000.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought a total of 175,896 shares of company stock worth $487,120 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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