Xenetic Biosciences (NASDAQ:XBIO) Lowered to Hold at Zacks Investment Research

Xenetic Biosciences (NASDAQ:XBIO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “Xenetic Biosciences, Inc. is a biopharmaceutical company focused on progressing XCART, a personalized CAR T platform technology engineered to target patient-specific tumor neoantigens. The Company is initially advancing cell-based therapeutics targeting the unique B-cell receptor on the surface of an individual patient’s malignant tumor cells for the treatment of B-cell lymphomas. XCART has the potential to fuel a robust pipeline of therapeutic assets targeting high-value oncology indications. Additionally, Xenetic is leveraging PolyXen(TM), its proprietary drug delivery platform, by partnering with biotechnology and pharmaceutical companies. PolyXen(TM) has demonstrated its ability to improve the half-life and other pharmacological properties of next-generation biologic drugs. The Company has an exclusive license agreement with Takeda Pharmaceuticals Co. Ltd. in the field of coagulation disorders and expects to earn royalty payments under this agreement. “

Shares of XBIO stock traded up $0.04 during trading on Thursday, hitting $1.90. 100 shares of the stock traded hands, compared to its average volume of 3,593,645. Xenetic Biosciences has a 52-week low of $0.76 and a 52-week high of $5.85. The firm’s fifty day moving average price is $2.65 and its 200-day moving average price is $2.33.

Xenetic Biosciences (NASDAQ:XBIO) last announced its earnings results on Wednesday, August 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. The company had revenue of $0.29 million for the quarter, compared to analyst estimates of $0.19 million. Xenetic Biosciences had a negative return on equity of 109.37% and a negative net margin of 1,502.43%. Equities research analysts predict that Xenetic Biosciences will post -0.55 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of Xenetic Biosciences by 61.6% in the second quarter. Geode Capital Management LLC now owns 50,510 shares of the company’s stock worth $103,000 after acquiring an additional 19,249 shares in the last quarter. JTC Employer Solutions Trusteee Ltd acquired a new position in Xenetic Biosciences in the second quarter valued at $55,000. Citadel Advisors LLC acquired a new position in Xenetic Biosciences in the first quarter valued at $201,000. Virtu Financial LLC boosted its stake in Xenetic Biosciences by 89.8% in the first quarter. Virtu Financial LLC now owns 37,196 shares of the company’s stock valued at $81,000 after acquiring an additional 17,598 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Xenetic Biosciences by 47.6% in the first quarter. Renaissance Technologies LLC now owns 251,149 shares of the company’s stock valued at $548,000 after acquiring an additional 80,949 shares in the last quarter. Institutional investors and hedge funds own 4.87% of the company’s stock.

About Xenetic Biosciences

Xenetic Biosciences, Inc is a biopharmaceutical company focused on progressing XCART, a personalized CAR T platform technology engineered to target patient-specific tumor neoantigens. The Company is initially advancing cell-based therapeutics targeting the unique B-cell receptor on the surface of an individual patient’s malignant tumor cells for the treatment of B-cell lymphomas.

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