BioTime, Inc. (BTX) Short Interest Up 2.0% in October
BioTime, Inc. (NYSEAMERICAN:BTX) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 14,481,443 shares, a growth of 2.0% from the October 15th total of 14,198,940 shares. Based on an average daily volume of 341,212 shares, the days-to-cover ratio is currently 42.4 days. Approximately 11.5% of the company’s stock are short sold.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of BioTime by 3.1% during the third quarter. BlackRock Inc. now owns 6,102,467 shares of the biotechnology company’s stock worth $14,340,000 after acquiring an additional 185,826 shares during the last quarter. Destination Wealth Management purchased a new stake in BioTime in the third quarter valued at approximately $1,237,000. Northern Trust Corp boosted its position in BioTime by 5.2% in the second quarter. Northern Trust Corp now owns 1,016,226 shares of the biotechnology company’s stock valued at $2,094,000 after buying an additional 49,778 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in BioTime by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 744,554 shares of the biotechnology company’s stock valued at $1,534,000 after buying an additional 33,350 shares during the last quarter.
Separately, Zacks Investment Research upgraded shares of BioTime from a “hold” rating to a “buy” rating and set a $2.50 target price for the company in a report on Wednesday, August 8th.
BioTime (NYSEAMERICAN:BTX) last issued its quarterly earnings results on Thursday, November 8th. The biotechnology company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.01). The firm had revenue of $0.98 million during the quarter, compared to analyst estimates of $0.75 million.
BioTime Company Profile
BioTime, Inc, a clinical-stage biotechnology company, focuses on developing and commercializing products addressing degenerative diseases based on pluripotent stem cells and HyStem cell/drug delivery platform technologies primarily in the United States and Israel. 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; and Renevia, a facial aesthetics product that is in pivotal clinical trial for the treatment of HIV-associated facial lipoatrophy.
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