XOMA Royalty Corporation (NASDAQ:XOMA) Shares Bought by CM Management LLC

Key Points

• CM Management LLC increased its stake in XOMA Royalty Corporation by 16.4%, owning 64,000 shares valued at approximately $1.28 million.
• XOMA Royalty's stock price rose by 4.4%, with the firm achieving a quarterly revenue of $15.91 million, significantly exceeding analysts' estimates.
• CEO Owen Hughes sold 25,637 shares for about $650,667, resulting in a 29.02% decrease in his ownership of the stock.

CM Management LLC increased its stake in shares of XOMA Royalty Corporation (NASDAQ:XOMA - Free Report) by 16.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,000 shares of the biotechnology company's stock after buying an additional 9,000 shares during the quarter. CM Management LLC owned about 0.54% of XOMA Royalty worth $1,276,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in XOMA. GAMMA Investing LLC boosted its holdings in XOMA Royalty by 1,063.8% in the first quarter. GAMMA Investing LLC now owns 1,734 shares of the biotechnology company's stock valued at $35,000 after purchasing an additional 1,585 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in XOMA Royalty by 38.0% in the fourth quarter. Wells Fargo & Company MN now owns 4,300 shares of the biotechnology company's stock valued at $113,000 after purchasing an additional 1,183 shares during the last quarter. Bank of America Corp DE boosted its holdings in XOMA Royalty by 34.7% in the fourth quarter. Bank of America Corp DE now owns 7,796 shares of the biotechnology company's stock valued at $205,000 after purchasing an additional 2,009 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in XOMA Royalty by 238.9% in the fourth quarter. JPMorgan Chase & Co. now owns 12,089 shares of the biotechnology company's stock valued at $318,000 after purchasing an additional 8,522 shares during the last quarter. Finally, Barclays PLC boosted its holdings in XOMA Royalty by 13.6% in the fourth quarter. Barclays PLC now owns 12,784 shares of the biotechnology company's stock valued at $336,000 after purchasing an additional 1,528 shares during the last quarter. 95.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Owen Hughes sold 25,637 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $25.38, for a total transaction of $650,667.06. Following the completion of the transaction, the chief executive officer owned 62,701 shares in the company, valued at $1,591,351.38. This represents a 29.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Bvf Partners L. P/Il sold 392,723 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $27.10, for a total transaction of $10,642,793.30. Following the transaction, the insider owned 1,267,545 shares of the company's stock, valued at approximately $34,350,469.50. This trade represents a 23.65% decrease in their position. The disclosure for this sale can be found here. 9.10% of the stock is owned by corporate insiders.

XOMA Royalty Price Performance

Shares of XOMA stock traded up $0.66 during mid-day trading on Friday, hitting $26.50. 38,873 shares of the stock were exchanged, compared to its average volume of 31,453. The firm has a fifty day moving average of $25.89 and a 200 day moving average of $24.22. The company has a quick ratio of 5.54, a current ratio of 5.54 and a debt-to-equity ratio of 1.18. XOMA Royalty Corporation has a 52-week low of $18.35 and a 52-week high of $35.00. The company has a market cap of $317.21 million, a PE ratio of -23.04 and a beta of 1.00.

XOMA Royalty (NASDAQ:XOMA - Get Free Report) last posted its earnings results on Tuesday, May 13th. The biotechnology company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.32. XOMA Royalty had a negative net margin of 13.04% and a negative return on equity of 12.43%. The business had revenue of $15.91 million for the quarter, compared to analyst estimates of $6.75 million. Research analysts anticipate that XOMA Royalty Corporation will post -1.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on XOMA shares. HC Wainwright reaffirmed a "buy" rating and issued a $104.00 price target on shares of XOMA Royalty in a report on Wednesday, May 28th. Wall Street Zen lowered shares of XOMA Royalty from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. Finally, Benchmark initiated coverage on shares of XOMA Royalty in a research note on Thursday, April 17th. They set a "buy" rating and a $35.00 target price on the stock.

XOMA Royalty Profile

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.