BioTime, Inc. (BTX) Downgraded by Zacks Investment Research
BioTime, Inc. (NYSEMKT:BTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
According to Zacks, “BioTime, Inc. is a clinical-stage biotechnology company focused on developing and commercializing novel therapies in the field of regenerative medicine. The foundation of its core therapeutic technology platform is pluripotent cells that are capable of becoming any of the cell types in the human body. BioTime’s research and other activities have resulted, over time, in the creation of other subsidiaries that address other non-therapeutic market opportunities such as cancer diagnostics, drug development and cell research products, and mobile health software applications. “
Separately, Ladenburg Thalmann began coverage on BioTime in a research note on Friday, September 23rd. They issued a “buy” rating and a $6.00 price target for the company.
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Shares of BioTime (NYSEMKT:BTX) traded down 0.85% during mid-day trading on Monday, hitting $3.51. The stock had a trading volume of 165,828 shares. BioTime has a 52 week low of $2.02 and a 52 week high of $4.51. The firm’s market cap is $356.85 million. The stock has a 50 day moving average price of $3.45 and a 200 day moving average price of $3.03.
BioTime (NYSEMKT:BTX) last issued its earnings results on Tuesday, August 9th. The company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.43. The business had revenue of $1.27 million for the quarter, compared to the consensus estimate of $1.75 million. Equities research analysts expect that BioTime will post ($0.22) EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in BTX. Broadwood Capital Inc. boosted its position in shares of BioTime by 12.3% in the second quarter. Broadwood Capital Inc. now owns 24,897,032 shares of the company’s stock valued at $64,981,000 after buying an additional 2,732,636 shares in the last quarter. Williams Jones & Associates LLC boosted its position in shares of BioTime by 9.0% in the first quarter. Williams Jones & Associates LLC now owns 60,450 shares of the company’s stock valued at $173,000 after buying an additional 5,000 shares in the last quarter. Granite Point Capital Management L.P. bought a new position in shares of BioTime during the second quarter valued at $206,000. California State Teachers Retirement System boosted its position in shares of BioTime by 11.0% in the second quarter. California State Teachers Retirement System now owns 134,039 shares of the company’s stock valued at $350,000 after buying an additional 13,254 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of BioTime by 0.9% in the first quarter. Geode Capital Management LLC now owns 357,921 shares of the company’s stock valued at $1,027,000 after buying an additional 3,101 shares in the last quarter.
BioTime, Inc is a clinical-stage biotechnology company. The Company is focused on the field of regenerative medicine, specifically pluripotent stem cell technology. The Company is engaged in the research and development of therapeutic products for oncology, orthopedics, retinal and neurological diseases and disorders, blood and vascular system diseases and disorders, blood plasma volume expansion, diagnostic products for the early detection of cancer, and hydrogel products that may be used in surgery and products for human embryonic stem cell research.
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