BioTime, Inc. (BTX) Stock Rating Lowered by Zacks Investment Research
BioTime, Inc. (NYSEMKT:BTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and 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 started coverage on shares of BioTime in a research report on Friday, September 23rd. They set a “buy” rating and a $6.00 price objective for the company.
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BioTime (NYSEMKT:BTX) traded down 0.85% during midday trading on Monday, hitting $3.51. 166,701 shares of the stock were exchanged. The firm’s 50-day moving average is $3.45 and its 200 day moving average is $3.03. BioTime has a 52 week low of $2.02 and a 52 week high of $4.51. The stock’s market cap is $356.85 million.
BioTime (NYSEMKT:BTX) last released its earnings results on Tuesday, August 9th. The company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.43. The company earned $1.27 million during 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.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in 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 during the period. Williams Jones & Associates LLC boosted its position in 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 during the period. Broadwood Capital Inc. boosted its position in BioTime by 1.4% in the first quarter. Broadwood Capital Inc. now owns 22,164,396 shares of the company’s stock valued at $63,612,000 after buying an additional 300,000 shares during the period. Bank of New York Mellon Corp boosted its position in BioTime by 14.9% in the second quarter. Bank of New York Mellon Corp now owns 240,697 shares of the company’s stock valued at $628,000 after buying an additional 31,178 shares during the period. Finally, California State Teachers Retirement System boosted its position in 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 during the period.
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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