BioTime, Inc. (NYSEAMERICAN:BTX) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 13,153,727 shares, an increase of 0.5% from the August 15th total of 13,086,517 shares. Based on an average daily trading volume, of 270,917 shares, the days-to-cover ratio is currently 48.6 days. Currently, 10.5% of the shares of the stock are sold short.
Separately, Zacks Investment Research cut BioTime from a “buy” rating to a “hold” rating in a research report on Wednesday.
BioTime stock remained flat at $$2.22 during midday trading on Friday. The company had a trading volume of 337,479 shares, compared to its average volume of 471,476. BioTime has a twelve month low of $1.98 and a twelve month high of $3.16.
BioTime (NYSEAMERICAN:BTX) last posted its quarterly earnings data on Thursday, August 2nd. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. BioTime had a return on equity of 30.68% and a net margin of 828.55%. The firm had revenue of $2.55 million during the quarter, compared to analysts’ expectations of $0.33 million.
Several institutional investors and hedge funds have recently bought and sold shares of BTX. Millennium Management LLC boosted its holdings in shares of BioTime by 938.4% in the 4th quarter. Millennium Management LLC now owns 150,721 shares of the biotechnology company’s stock worth $324,000 after purchasing an additional 136,206 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of BioTime by 20.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 173,856 shares of the biotechnology company’s stock worth $468,000 after purchasing an additional 30,056 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of BioTime by 5.2% in the 1st quarter. Northern Trust Corp now owns 966,448 shares of the biotechnology company’s stock worth $2,600,000 after purchasing an additional 47,957 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of BioTime by 4.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 744,554 shares of the biotechnology company’s stock worth $1,534,000 after purchasing an additional 33,350 shares in the last quarter.
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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