BioTime, Inc. (NYSEAMERICAN:BTX) was up 5.5% during trading on Friday . The company traded as high as $2.93 and last traded at $2.89. Approximately 721,541 shares traded hands during trading, an increase of 52% from the average daily volume of 473,197 shares. The stock had previously closed at $2.74.
A number of equities research analysts recently commented on BTX shares. Zacks Investment Research lowered shares of BioTime from a “hold” rating to a “sell” rating in a report on Friday, January 12th. BidaskClub upgraded shares of BioTime from a “sell” rating to a “hold” rating in a report on Thursday, September 28th. Three equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. BioTime has a consensus rating of “Hold” and an average price target of $5.08.
The firm has a market cap of $345.07, a price-to-earnings ratio of 6.33 and a beta of 2.03.
Hedge funds and other institutional investors have recently modified their holdings of the business. Voya Investment Management LLC raised its holdings in BioTime by 38.3% in 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. Jane Street Group LLC raised its holdings in BioTime by 95.6% in 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. Ameriprise Financial Inc. bought a new position in BioTime in the 2nd quarter worth $142,000. Moors & Cabot Inc. raised its holdings in BioTime by 25.2% in the 2nd 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, SG Americas Securities LLC raised its holdings in BioTime by 402.4% in the 4th quarter. SG Americas Securities LLC now owns 62,301 shares of the biotechnology company’s stock worth $134,000 after purchasing an additional 49,900 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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