Panagora Asset Management Inc. bought a new position in BioTime, Inc. (NYSEAMERICAN:BTX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 334,914 shares of the biotechnology company’s stock, valued at approximately $368,000. Panagora Asset Management Inc. owned approximately 0.22% of BioTime as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Northeast Financial Consultants Inc bought a new stake in shares of BioTime during the 1st quarter worth $537,000. Price Capital Management Inc. bought a new stake in shares of BioTime during the 1st quarter worth $430,000. Deutsche Bank AG boosted its holdings in shares of BioTime by 95.6% during the 4th quarter. Deutsche Bank AG now owns 376,850 shares of the biotechnology company’s stock worth $343,000 after buying an additional 184,151 shares during the period. Creative Planning boosted its holdings in shares of BioTime by 52.2% during the 2nd quarter. Creative Planning now owns 227,392 shares of the biotechnology company’s stock worth $250,000 after buying an additional 77,978 shares during the period. Finally, Moors & Cabot Inc. boosted its holdings in shares of BioTime by 122.9% during the 1st quarter. Moors & Cabot Inc. now owns 58,300 shares of the biotechnology company’s stock worth $76,000 after buying an additional 32,150 shares during the period.
In related news, major shareholder Biotime Inc sold 2,250,000 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $2.00, for a total transaction of $4,500,000.00. Following the completion of the sale, the insider now owns 12,424,244 shares in the company, valued at approximately $24,848,488. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders bought 16,407 shares of company stock valued at $16,579.
BioTime (NYSEAMERICAN:BTX) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $0.78 million for the quarter, compared to analysts’ expectations of $1.04 million.
Several analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of BioTime from a “buy” rating to a “hold” rating in a report on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price objective on shares of BioTime in a report on Friday, August 9th. Finally, Raymond James assumed coverage on shares of BioTime in a report on Thursday, June 13th. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. BioTime presently has a consensus rating of “Buy” and a consensus price target of $3.38.
BioTime, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing therapies for the treatment of degenerative diseases in the United States and internationally. The company's lead product candidates include OpRegen, a retinal pigment epithelium cell replacement therapy, which is in Phase I/IIa multicenter trial for the treatment of the dry age-related macular degeneration; OPC1, an oligodendrocyte progenitor cell therapy that is in Phase I/IIa multicenter clinical trial for the treatment of acute spinal cord injuries; and VAC2, an allogeneic cancer immunotherapy of antigen-presenting dendritic cells, which is in Phase I clinical trial to treat non-small cell lung cancer.
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