XOMA’s (XOMA) “Buy” Rating Reiterated at HC Wainwright

XOMA (NASDAQ:XOMA)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $123.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective would indicate a potential upside of 349.23% from the stock’s previous close.

XOMA Price Performance

Shares of NASDAQ:XOMA traded down $0.65 on Friday, reaching $27.38. 8,970 shares of the company traded hands, compared to its average volume of 22,500. The company has a debt-to-equity ratio of 1.28, a current ratio of 7.52 and a quick ratio of 7.52. The stock has a market capitalization of $322.54 million, a PE ratio of -7.87 and a beta of 0.88. The company’s 50 day moving average is $30.06 and its 200-day moving average is $27.66. XOMA has a fifty-two week low of $15.56 and a fifty-two week high of $35.00.

Insider Activity

In related news, CEO Owen Hughes sold 21,881 shares of XOMA stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $29.95, for a total value of $655,335.95. Following the transaction, the chief executive officer now owns 34,979 shares in the company, valued at $1,047,621.05. This trade represents a 38.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 7.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On XOMA

Several large investors have recently made changes to their positions in the business. Ellsworth Advisors LLC acquired a new stake in XOMA in the 3rd quarter worth $516,000. Rhumbline Advisers grew its stake in shares of XOMA by 16.0% in the 2nd quarter. Rhumbline Advisers now owns 9,695 shares of the biotechnology company’s stock valued at $230,000 after purchasing an additional 1,334 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in shares of XOMA in the 1st quarter worth approximately $212,000. Bank of New York Mellon Corp lifted its position in shares of XOMA by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 62,656 shares of the biotechnology company’s stock worth $1,484,000 after buying an additional 1,968 shares during the period. Finally, Barclays PLC raised its stake in XOMA by 300.7% during the third quarter. Barclays PLC now owns 11,256 shares of the biotechnology company’s stock worth $298,000 after acquiring an additional 8,447 shares in the last quarter. Institutional investors and hedge funds own 95.92% of the company’s stock.

About XOMA

XOMA Corporation operates as a biotech royalty aggregator in the United States and the Asia Pacific. It has a portfolio of economic rights to future potential milestone and royalty payments associated with partnered commercial and pre-commercial therapeutic candidates. The company also focuses on early to mid-stage clinical assets primarily in Phase 1 and 2 with commercial sales potential that are licensed to partners; and acquires milestone and royalty revenue streams on late-stage clinical or commercial assets.