Shares of BioTime, Inc. (NYSEMKT:BTX) have earned an average recommendation of “Hold” from the five research firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $6.25.
Several equities research analysts recently issued reports on BTX shares. Zacks Investment Research upgraded shares of BioTime from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a research report on Tuesday, July 18th. ValuEngine cut shares of BioTime from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, BidaskClub cut shares of BioTime from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th.
BioTime (BTX) traded down $0.04 on Wednesday, reaching $2.37. 68,629 shares of the company’s stock traded hands, compared to its average volume of 429,124. BioTime has a fifty-two week low of $2.27 and a fifty-two week high of $3.96.
In related news, Director Broadwood Partners, L.P. acquired 2,692,307 shares of the business’s stock in a transaction on Friday, October 13th. The shares were bought at an average price of $2.60 per share, with a total value of $6,999,998.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have acquired 2,716,203 shares of company stock worth $7,061,218.
A number of institutional investors and hedge funds have recently made changes to their positions in BTX. Vanguard Group Inc. boosted its position in shares of BioTime by 17.0% during the 2nd 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 in the last quarter. State Street Corp boosted its position in shares of BioTime by 10.3% during the 2nd 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of BioTime by 159.5% during the 1st 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 in the last quarter. Bank of New York Mellon Corp boosted its position in shares of BioTime by 6.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 474,858 shares of the biotechnology company’s stock worth $1,496,000 after purchasing an additional 29,827 shares in the last quarter. Finally, IndexIQ Advisors LLC boosted its position in shares of BioTime by 83.1% during the 3rd quarter. IndexIQ Advisors LLC now owns 251,227 shares of the biotechnology company’s stock worth $713,000 after purchasing an additional 114,003 shares in the last quarter.
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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