Zacks Investment Research upgraded shares of BioTime, Inc. (NYSEAMERICAN:BTX) from a hold rating to a buy rating in a research note released on Wednesday morning. They currently have $2.75 price objective on the biotechnology company’s stock.
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, BidaskClub raised shares of BioTime from a strong sell rating to a sell rating in a research report on Friday, August 25th. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $5.08.
Shares of BioTime (BTX) opened at $2.50 on Wednesday. BioTime has a 12-month low of $2.19 and a 12-month high of $3.96.
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In other BioTime news, Director Broadwood Partners, L.P. bought 2,692,307 shares of the stock in a transaction on Friday, October 13th. The stock was purchased at an average price of $2.60 per share, for a total transaction of $6,999,998.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have acquired 2,716,203 shares of company stock valued at $7,061,218.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in BioTime by 159.5% in the first quarter. Geode Capital Management LLC now owns 1,043,378 shares of the biotechnology company’s stock worth $3,599,000 after purchasing an additional 641,358 shares during the period. Vanguard Group Inc. lifted its holdings in BioTime by 17.0% in the second quarter. Vanguard Group Inc. now owns 3,680,705 shares of the biotechnology company’s stock worth $11,594,000 after purchasing an additional 534,527 shares during the period. Broadwood Capital Inc. lifted its holdings in BioTime by 0.6% in the third quarter. Broadwood Capital Inc. now owns 27,279,254 shares of the biotechnology company’s stock worth $77,473,000 after purchasing an additional 160,000 shares during the period. IndexIQ Advisors LLC acquired a new stake in BioTime in the second quarter worth about $431,000. Finally, State Street Corp lifted its holdings in BioTime by 10.3% in the second quarter. State Street Corp now owns 1,345,379 shares of the biotechnology company’s stock worth $4,238,000 after purchasing an additional 125,833 shares during the period.
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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