Zacks Investment Research Downgrades BioTime, Inc. (BTX) to Sell

BioTime, Inc. (NYSEMKT:BTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

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. “

Several other analysts also recently weighed in on BTX. ValuEngine downgraded BioTime from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Ladenburg Thalmann Financial Services restated a “buy” rating and set a $6.50 target price (up from $6.00) on shares of BioTime in a research note on Monday, June 19th. Finally, BidaskClub upgraded BioTime from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $5.33.

BioTime (BTX) opened at 2.82 on Tuesday. BioTime has a 1-year low of $2.47 and a 1-year high of $3.97. The company’s 50-day moving average price is $2.78 and its 200 day moving average price is $3.03. The firm has a market capitalization of $326.57 million, a PE ratio of 4.74 and a beta of 1.37.

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In other news, Director Broadwood Partners, L.P. purchased 150,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was acquired at an average cost of $2.80 per share, for a total transaction of $420,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought 173,896 shares of company stock valued at $481,220 over the last 90 days.

A number of large investors have recently bought and sold shares of BTX. Nationwide Fund Advisors grew its stake in BioTime by 2.2% in the first quarter. Nationwide Fund Advisors now owns 44,578 shares of the biotechnology company’s stock worth $154,000 after purchasing an additional 939 shares in the last quarter. Russell Investments Group Ltd. grew its stake in BioTime by 306.7% in the first quarter. Russell Investments Group Ltd. now owns 96,303 shares of the biotechnology company’s stock worth $333,000 after purchasing an additional 72,624 shares in the last quarter. Bank of New York Mellon Corp grew its stake in BioTime by 17.5% in the first quarter. Bank of New York Mellon Corp now owns 445,031 shares of the biotechnology company’s stock worth $1,535,000 after purchasing an additional 66,195 shares in the last quarter. Swiss National Bank grew its stake in BioTime by 18.7% in the first quarter. Swiss National Bank now owns 110,586 shares of the biotechnology company’s stock worth $382,000 after purchasing an additional 17,400 shares in the last quarter. Finally, American International Group Inc. grew its stake in BioTime by 8.3% in the first quarter. American International Group Inc. now owns 39,794 shares of the biotechnology company’s stock worth $137,000 after purchasing an additional 3,036 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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