CM Management LLC Has $1.28 Million Stock Position in XOMA Royalty Corporation (NASDAQ:XOMA)

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 lifted its stake in shares of XOMA Royalty Corporation (NASDAQ:XOMA - Free Report) by 16.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,000 shares of the biotechnology company's stock after acquiring an additional 9,000 shares during the quarter. CM Management LLC owned 0.54% of XOMA Royalty worth $1,276,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Nuveen Asset Management LLC grew its stake in XOMA Royalty by 3.8% in the fourth quarter. Nuveen Asset Management LLC now owns 14,363 shares of the biotechnology company's stock valued at $377,000 after purchasing an additional 527 shares in the last quarter. Eversept Partners LP boosted its holdings in shares of XOMA Royalty by 1.2% during the 4th quarter. Eversept Partners LP now owns 95,417 shares of the biotechnology company's stock worth $2,508,000 after buying an additional 1,128 shares during the period. Wells Fargo & Company MN grew its position in shares of 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. Northern Trust Corp increased its position in XOMA Royalty by 1.5% in the 4th quarter. Northern Trust Corp now owns 91,181 shares of the biotechnology company's stock worth $2,396,000 after buying an additional 1,340 shares during the period. Finally, Barclays PLC boosted its holdings in XOMA Royalty by 13.6% in the 4th 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 period. 95.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

XOMA has been the subject of a number of recent research reports. Wall Street Zen lowered XOMA Royalty from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. HC Wainwright reaffirmed a "buy" rating and issued a $104.00 price target on shares of XOMA Royalty in a research note on Wednesday, May 28th. Finally, Benchmark started coverage on XOMA Royalty in a research note on Thursday, April 17th. They set a "buy" rating and a $35.00 price objective for the company.

Insider Activity

In other news, 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 value of $10,642,793.30. Following the completion of the sale, the insider directly owned 1,267,545 shares of the company's stock, valued at $34,350,469.50. This represents a 23.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Owen Hughes sold 25,637 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 62,701 shares of the company's stock, valued at $1,591,351.38. The trade was a 29.02% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.10% of the company's stock.

XOMA Royalty Price Performance

Shares of NASDAQ:XOMA traded up $0.66 during trading on Friday, reaching $26.50. The stock had a trading volume of 38,873 shares, compared to its average volume of 31,453. The stock has a market capitalization of $317.21 million, a PE ratio of -23.04 and a beta of 1.00. The company has a debt-to-equity ratio of 1.18, a current ratio of 5.54 and a quick ratio of 5.54. XOMA Royalty Corporation has a 52 week low of $18.35 and a 52 week high of $35.00. The business's 50-day moving average price is $25.89 and its 200 day moving average price is $24.23.

XOMA Royalty (NASDAQ:XOMA - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.32. The firm had revenue of $15.91 million during the quarter, compared to the consensus estimate of $6.75 million. XOMA Royalty had a negative return on equity of 12.43% and a negative net margin of 13.04%. As a group, equities analysts predict that XOMA Royalty Corporation will post -1.41 earnings per share for the current year.

About XOMA Royalty

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.