BioTime (NYSEAMERICAN:BTX) Trading Up 5.8%

BioTime, Inc. (NYSEAMERICAN:BTX) shares were up 5.8% during mid-day trading on Friday . The company traded as high as $1.10 and last traded at $1.10. Approximately 1,932,153 shares were traded during mid-day trading, an increase of 146% from the average daily volume of 785,788 shares. The stock had previously closed at $1.04.

A number of equities analysts have issued reports on BTX shares. Raymond James lowered their target price on BioTime from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Monday, March 18th. HC Wainwright set a $4.00 price objective on BioTime and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, Zacks Investment Research raised BioTime from a “hold” rating to a “strong-buy” rating and set a $1.75 price objective for the company in a research note on Tuesday, March 19th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $3.46.

BioTime (NYSEAMERICAN:BTX) last issued its quarterly earnings results on Thursday, May 9th. The biotechnology company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.36. The business had revenue of $0.93 million for the quarter, compared to analysts’ expectations of $0.66 million.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in BioTime by 1.3% during the fourth quarter. BlackRock Inc. now owns 6,179,281 shares of the biotechnology company’s stock valued at $5,642,000 after purchasing an additional 76,814 shares during the period. Defender Capital LLC. grew its holdings in BioTime by 5.8% during the first quarter. Defender Capital LLC. now owns 4,214,560 shares of the biotechnology company’s stock valued at $5,574,000 after purchasing an additional 230,090 shares during the period. Geode Capital Management LLC grew its holdings in BioTime by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 1,227,540 shares of the biotechnology company’s stock valued at $1,120,000 after purchasing an additional 37,279 shares during the period. Two Sigma Investments LP grew its holdings in BioTime by 265.9% during the fourth quarter. Two Sigma Investments LP now owns 529,977 shares of the biotechnology company’s stock valued at $484,000 after purchasing an additional 385,116 shares during the period. Finally, Northeast Financial Consultants Inc bought a new position in BioTime during the first quarter valued at $537,000.

BioTime Company Profile (NYSEAMERICAN:BTX)

BioTime, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing therapies for the treatment of degenerative diseases in the United States and internationally. The company's lead product candidates include OpRegen, a retinal pigment epithelium cell replacement therapy, which is in Phase I/IIa multicenter trial for the treatment of the dry age-related macular degeneration; OPC1, an oligodendrocyte progenitor cell therapy that is in Phase I/IIa multicenter clinical trial for the treatment of acute spinal cord injuries; and VAC2, an allogeneic cancer immunotherapy of antigen-presenting dendritic cells, which is in Phase I clinical trial to treat non-small cell lung cancer.

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