BioTime, Inc. (NYSEAMERICAN:BTX) was the recipient of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 7,854,616 shares, an increase of 13.4% from the January 31st total of 6,928,298 shares. Based on an average daily trading volume, of 495,715 shares, the days-to-cover ratio is currently 15.8 days. Approximately 6.3% of the company’s shares are sold short.
A number of research analysts have recently commented on the company. Lake Street Capital assumed coverage on BioTime in a research note on Friday, February 2nd. They set a “buy” rating and a $8.00 target price on the stock. Zacks Investment Research raised BioTime from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a research note on Wednesday, November 15th. Three investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company. BioTime currently has an average rating of “Hold” and a consensus target price of $5.81.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BTX. Family Management Corp grew its stake in BioTime by 29.9% in the third quarter. Family Management Corp now owns 182,350 shares of the biotechnology company’s stock worth $518,000 after purchasing an additional 41,979 shares in the last quarter. GSA Capital Partners LLP grew its stake in BioTime by 124.1% in the third quarter. GSA Capital Partners LLP now owns 174,816 shares of the biotechnology company’s stock worth $496,000 after purchasing an additional 96,816 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in BioTime by 51.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 163,100 shares of the biotechnology company’s stock worth $514,000 after purchasing an additional 55,600 shares in the last quarter. State Street Corp grew its stake in BioTime by 10.3% in the second 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. Finally, Vanguard Group Inc. grew its stake in BioTime by 17.0% in the second 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.
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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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