Insider Buying: Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) CEO Buys 40,000 Shares of Stock

Lineage Cell Therapeutics, Inc. (NYSEAMERICAN:LCTX) CEO Brian M. Culley bought 40,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were bought at an average cost of $0.60 per share, for a total transaction of $24,000.00. Following the transaction, the chief executive officer now owns 194,842 shares in the company, valued at approximately $116,905.20. The trade was a 25.83 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Lineage Cell Therapeutics Stock Down 16.0 %

Shares of NYSEAMERICAN LCTX opened at $0.50 on Friday. Lineage Cell Therapeutics, Inc. has a 1 year low of $0.50 and a 1 year high of $1.61. The stock has a market capitalization of $95.16 million, a price-to-earnings ratio of -4.20 and a beta of 1.28.

Wall Street Analyst Weigh In

Separately, Craig Hallum initiated coverage on shares of Lineage Cell Therapeutics in a research note on Tuesday, August 20th. They set a “buy” rating and a $4.00 price objective for the company.

Institutional Investors Weigh In On Lineage Cell Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Raffles Associates LP increased its stake in Lineage Cell Therapeutics by 35.8% in the 2nd quarter. Raffles Associates LP now owns 4,357,781 shares of the company’s stock worth $4,346,000 after buying an additional 1,147,800 shares during the period. Bank of New York Mellon Corp grew its stake in Lineage Cell Therapeutics by 35.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 435,958 shares of the company’s stock worth $435,000 after acquiring an additional 114,762 shares in the last quarter. Rhumbline Advisers grew its stake in Lineage Cell Therapeutics by 15.1% in the 2nd quarter. Rhumbline Advisers now owns 132,491 shares of the company’s stock worth $132,000 after acquiring an additional 17,411 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Lineage Cell Therapeutics by 77.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 161,314 shares of the company’s stock worth $239,000 after acquiring an additional 70,418 shares during the period. Finally, Comerica Bank raised its stake in shares of Lineage Cell Therapeutics by 84,745.8% during the first quarter. Comerica Bank now owns 250,295 shares of the company’s stock valued at $370,000 after acquiring an additional 250,000 shares in the last quarter. 62.47% of the stock is currently owned by hedge funds and other institutional investors.

About Lineage Cell Therapeutics

Lineage Cell Therapeutics, Inc, a clinical-stage biotechnology company, develops novel cell therapies for unmet medical needs in the United States and internationally. The company develops OpRegen, an allogeneic retinal pigment epithelium cell replacement therapy, which is in Phase 2a clinical trial for the treatment of the dry age-related macular degeneration; OPC1, an allogeneic oligodendrocyte progenitor cell therapy that is in Phase 1/2a multicenter clinical trial for the treatment of cervical spinal cord injuries; and VAC, an allogeneic cancer immunotherapy of antigen-presenting dendritic cells, which is in Phase I clinical trial to treat non-small cell lung cancer.