XOMA Royalty (NASDAQ:XOMA) Stock Price Passes Above 200-Day Moving Average - Here's Why

XOMA Royalty Corporation (NASDAQ:XOMA - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $28.63 and traded as high as $35.60. XOMA Royalty shares last traded at $33.87, with a volume of 44,397 shares.

Analysts Set New Price Targets

A number of research firms have weighed in on XOMA. Zacks Research cut shares of XOMA Royalty from a "strong-buy" rating to a "hold" rating in a research note on Monday. Wall Street Zen upgraded XOMA Royalty from a "hold" rating to a "buy" rating in a research note on Monday, August 11th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of XOMA Royalty in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $69.50.

XOMA Royalty Trading Down 2.7%

The company has a market cap of $409.49 million, a PE ratio of -21.85 and a beta of 1.02. The firm's 50 day moving average is $35.69 and its 200 day moving average is $28.63. The company has a debt-to-equity ratio of 1.41, a current ratio of 4.88 and a quick ratio of 4.88.

XOMA Royalty (NASDAQ:XOMA - Get Free Report) last announced its earnings results on Wednesday, August 13th. The biotechnology company reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.60. The business had revenue of $13.13 million for the quarter, compared to analyst estimates of $9.39 million. XOMA Royalty had a positive return on equity of 2.63% and a negative net margin of 27.57%. On average, equities analysts anticipate that XOMA Royalty Corporation will post -1.41 earnings per share for the current year.

Insiders Place Their Bets

In other XOMA Royalty news, CFO Thomas M. Burns sold 4,330 shares of XOMA Royalty stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $35.99, for a total transaction of $155,836.70. Following the completion of the sale, the chief financial officer owned 30,079 shares of the company's stock, valued at $1,082,543.21. The trade was a 12.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.10% of the stock is owned by insiders.

Institutional Investors Weigh In On XOMA Royalty

A number of hedge funds have recently made changes to their positions in XOMA. Stonepine Capital Management LLC grew its position in XOMA Royalty by 17.2% during the 2nd quarter. Stonepine Capital Management LLC now owns 152,143 shares of the biotechnology company's stock worth $3,834,000 after acquiring an additional 22,330 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new position in shares of XOMA Royalty during the second quarter valued at about $527,000. Panagora Asset Management Inc. bought a new position in XOMA Royalty in the second quarter worth about $463,000. Geode Capital Management LLC boosted its position in XOMA Royalty by 9.1% during the 2nd quarter. Geode Capital Management LLC now owns 203,601 shares of the biotechnology company's stock valued at $5,132,000 after acquiring an additional 16,929 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in XOMA Royalty during the 2nd quarter valued at approximately $370,000. 95.92% of the stock is currently owned by institutional investors.

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.

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