Xenetic Biosciences (NASDAQ:XBIO) Shares Up 6.1% – Here’s What Happened

Xenetic Biosciences, Inc. (NASDAQ:XBIO) shares shot up 6.1% during mid-day trading on Friday . The company traded as high as $2.49 and last traded at $2.42. 80,930 shares traded hands during mid-day trading, an increase of 307% from the average session volume of 19,887 shares. The stock had previously closed at $2.28.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Xenetic Biosciences in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce”.

Xenetic Biosciences Price Performance

The stock has a market cap of $5.54 million, a P/E ratio of -1.18 and a beta of 2.25. The stock’s 50-day moving average is $2.35 and its two-hundred day moving average is $3.12.

Xenetic Biosciences (NASDAQ:XBIO) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.16. Xenetic Biosciences had a negative net margin of 110.42% and a negative return on equity of 64.66%. The business had revenue of $1.03 million for the quarter. On average, analysts anticipate that Xenetic Biosciences, Inc. will post -1.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Xenetic Biosciences stock. Sachetta LLC boosted its holdings in shares of Xenetic Biosciences, Inc. (NASDAQ:XBIO) by 43.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,259 shares of the company’s stock after purchasing an additional 4,593 shares during the quarter. Sachetta LLC owned about 0.99% of Xenetic Biosciences worth $60,000 as of its most recent SEC filing. 15.12% of the stock is currently owned by institutional investors and hedge funds.

Xenetic Biosciences Company Profile

Xenetic Biosciences, Inc is a clinical-stage biotechnology company focused on the development and commercialization of enhanced protein and peptide therapeutics for oncology, immunology and rare diseases. The company leverages its proprietary platforms to extend the half-life, improve the stability and optimize the delivery of biopharmaceuticals. Xenetic’s pipeline includes novel candidates designed to address unmet medical needs in solid tumors and inherited disorders.

At the heart of Xenetic’s technology portfolio are two complementary platforms: PolyXen, which employs a unique polysialylation process to prolong drug circulation and reduce immunogenicity, and Alphabody, a next-generation antibody-mimetic framework engineered for high-affinity binding to challenging targets.