BioTime, Inc. (NYSEAMERICAN:BTX) shares rose 6% on Tuesday . The stock traded as high as $2.90 and last traded at $2.83. Approximately 1,494,756 shares changed hands during trading, an increase of 196% from the average daily volume of 504,520 shares. The stock had previously closed at $2.67.
BTX has been the topic of several recent research reports. Zacks Investment Research upgraded BioTime from a “hold” rating to a “buy” rating and set a $2.75 price objective on the stock in a research report on Wednesday, November 15th. Lake Street Capital initiated coverage on BioTime in a research report on Friday, February 2nd. They set a “buy” rating and a $8.00 price objective on the stock. Three research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. BioTime currently has an average rating of “Hold” and a consensus target price of $5.81.
The company has a market cap of $338.75, a price-to-earnings ratio of 6.21 and a beta of 1.96.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Voya Investment Management LLC grew its holdings in shares of BioTime by 38.3% during the 2nd quarter. Voya Investment Management LLC now owns 32,496 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 8,996 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of BioTime by 8.7% during the 2nd quarter. Teachers Advisors LLC now owns 130,670 shares of the biotechnology company’s stock worth $412,000 after purchasing an additional 10,501 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of BioTime by 95.6% during the 3rd quarter. Jane Street Group LLC now owns 44,548 shares of the biotechnology company’s stock worth $127,000 after purchasing an additional 21,778 shares in the last quarter. Nationwide Fund Advisors grew its holdings in shares of BioTime by 61.2% during the 2nd quarter. Nationwide Fund Advisors now owns 71,857 shares of the biotechnology company’s stock worth $226,000 after purchasing an additional 27,279 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of BioTime by 109.9% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 63,720 shares of the biotechnology company’s stock worth $137,000 after purchasing an additional 33,360 shares in the last quarter.
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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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