Shares of BioTime, Inc. (NYSEMKT:BTX) have received a consensus recommendation of “Hold” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $6.25.
A number of brokerages have weighed in on BTX. BidaskClub upgraded shares of BioTime from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Zacks Investment Research downgraded shares of BioTime from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. ValuEngine upgraded shares of BioTime from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Finally, Ladenburg Thalmann Financial Services reiterated 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.
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In related news, Director Broadwood Partners, L.P. purchased 10,000 shares of BioTime stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased 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 can be accessed through this hyperlink. In the last 90 days, insiders have purchased 175,896 shares of company stock valued at $487,120.
A number of hedge funds have recently added to or reduced their stakes in the business. 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 during 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.
Shares of BioTime (BTX) traded up 1.06% on Tuesday, hitting $2.87. The stock had a trading volume of 204,460 shares. The company has a 50-day moving average of $2.74 and a 200-day moving average of $3.08. The company has a market cap of $332.36 million, a P/E ratio of 4.82 and a beta of 1.37. BioTime has a 52-week low of $2.47 and a 52-week high of $4.01.
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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