BioTime (BTX) Stock Price Up 10.7%

BioTime, Inc. (NYSEAMERICAN:BTX) shares rose 10.7% during mid-day trading on Monday . The company traded as high as $2.71 and last traded at $2.69. Approximately 2,355,300 shares were traded during mid-day trading, an increase of 338% from the average daily volume of 537,810 shares. The stock had previously closed at $2.43.

BTX has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of BioTime from a “buy” rating to a “hold” rating in a research note on Friday, December 22nd. Lake Street Capital initiated coverage on shares of BioTime in a research note on Friday, February 2nd. They issued a “buy” rating and a $8.00 price objective on the stock. Three analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $5.75.

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BioTime (NYSEAMERICAN:BTX) last posted its earnings results on Thursday, March 15th. The biotechnology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The company had revenue of $1.00 million for the quarter, compared to the consensus estimate of $2.38 million. BioTime had a return on equity of 30.68% and a net margin of 828.55%.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Broadwood Capital Inc. grew its stake in shares of BioTime by 0.6% during the third quarter. Broadwood Capital Inc. now owns 27,279,254 shares of the biotechnology company’s stock worth $77,473,000 after buying an additional 160,000 shares during the last quarter. AXA bought a new stake in shares of BioTime during the fourth quarter worth $4,942,000. Artal Group S.A. grew its stake in shares of BioTime by 21.5% during the fourth quarter. Artal Group S.A. now owns 1,557,050 shares of the biotechnology company’s stock worth $3,348,000 after buying an additional 275,000 shares during the last quarter. State Street Corp grew its stake in shares of BioTime by 10.3% during the second quarter. State Street Corp now owns 1,345,379 shares of the biotechnology company’s stock worth $4,238,000 after buying an additional 125,833 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of BioTime by 206.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,197,800 shares of the biotechnology company’s stock worth $2,575,000 after buying an additional 807,500 shares during the last quarter.

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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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