BioTime (BTX) Downgraded by Zacks Investment Research to “Sell”

BioTime (NYSEAMERICAN:BTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.

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 raised BioTime from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. Three investment 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 target price of $5.08.

Shares of BioTime (BTX) traded up $0.02 during mid-day trading on Friday, reaching $2.70. The company had a trading volume of 212,300 shares, compared to its average volume of 579,463. The firm has a market cap of $318.43, a price-to-earnings ratio of 6.28 and a beta of 2.03. BioTime has a twelve month low of $2.10 and a twelve month high of $3.62.

A number of institutional investors have recently bought and sold shares of BTX. Voya Investment Management LLC boosted 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 worth $102,000 after purchasing an additional 8,996 shares in the last quarter. Jane Street Group LLC boosted 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 worth $127,000 after purchasing an additional 21,778 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in BioTime in the second quarter worth $142,000. Moors & Cabot Inc. boosted 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 worth $154,000 after purchasing an additional 10,000 shares in the last quarter. Finally, State of Wisconsin Investment Board acquired a new position in BioTime in the second quarter worth $180,000.

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About BioTime

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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