Zacks Investment Research cut shares of BioTime (NYSEAMERICAN:BTX) from a hold rating to a sell rating in a research note published on Friday, January 12th.
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 lowered shares of BioTime from a sell rating to a strong sell rating in a report on Wednesday, October 18th. Three analysts have rated the stock with a sell rating and two have given a buy rating to the stock. BioTime has a consensus rating of Hold and a consensus price target of $5.08.
Shares of BioTime (BTX) remained flat at $$2.66 during trading on Friday. The company’s stock had a trading volume of 281,800 shares, compared to its average volume of 478,225. BioTime has a 12-month low of $2.10 and a 12-month high of $3.62. The company has a market cap of $340.00, a PE ratio of 6.19 and a beta of 2.03.
BioTime (NYSEAMERICAN:BTX) last posted its quarterly earnings results on Thursday, November 9th. The biotechnology company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.04. BioTime had a net margin of 828.55% and a return on equity of 30.68%.
A number of institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC lifted its stake in BioTime by 38.3% in the second quarter. Voya Investment Management LLC now owns 32,496 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 8,996 shares during the last quarter. Jane Street Group LLC lifted its stake in BioTime by 95.6% in the third quarter. Jane Street Group LLC now owns 44,548 shares of the biotechnology company’s stock valued at $127,000 after buying an additional 21,778 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in BioTime in the second quarter valued at $142,000. Moors & Cabot Inc. lifted its stake in BioTime by 25.2% in the second quarter. Moors & Cabot Inc. now owns 49,630 shares of the biotechnology company’s stock valued at $154,000 after buying an additional 10,000 shares during the last quarter. Finally, State of Wisconsin Investment Board bought a new stake in BioTime in the second quarter valued at $180,000.
WARNING: “BioTime (NYSEAMERICAN:BTX) Lowered to “Sell” at Zacks Investment Research” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States and international copyright laws. The original version of this piece can be accessed at https://ledgergazette.com/2018/01/19/biotime-btx-downgraded-to-sell-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for BioTime Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioTime and related companies with MarketBeat.com's FREE daily email newsletter.