5 Best Biotech Penny Stocks To Buy Now

3. Lineage Cell Therapeutics, Inc. (NYSE:LCTX)

Number of Hedge Fund Holders: 9

Share Price as of November 29: $1.40

Lineage Cell Therapeutics, Inc. (NYSE:LCTX) develops novel cell therapies to treat degenerative diseases in the US and internationally. It is based in Carlsbad, California.

Baird’s Jack Allen initiated coverage of Lineage Cell Therapeutics, Inc. (NYSE:LCTX) shares on November 1 with an Outperform rating and a $5 price target.

Lineage Cell Therapeutics, Inc. (NYSE:LCTX) stated in July that it had sufficient liquidity to carry out its current planned operations through at least 12 months from the issuance date of its consolidated financial statements. In the third quarter, the company’s cash, cash equivalents, and marketable securities stood at $66.4 million, expected to support its operations into the third quarter of 2024.

Nine hedge funds were long Lineage Cell Therapeutics, Inc. (NYSE:LCTX) in the third quarter, with a total stake value of $43.4 million.

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