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 report issued to clients and investors 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 NASDAQ XBIO traded up $0.04 during midday trading on Thursday, hitting $1.90. The company’s stock had a trading volume of 100 shares, compared to its average volume of 3,593,645. Xenetic Biosciences has a 1-year low of $0.76 and a 1-year 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 posted 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. Xenetic Biosciences had a negative net margin of 1,502.43% and a negative return on equity of 109.37%. The firm had revenue of $0.29 million during the quarter, compared to analyst estimates of $0.19 million. Equities analysts forecast that Xenetic Biosciences will post -0.55 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. JTC Employer Solutions Trusteee Ltd purchased a new position in Xenetic Biosciences during the second quarter valued at approximately $55,000. Geode Capital Management LLC lifted its stake in shares of Xenetic Biosciences by 137.1% in the first quarter. Geode Capital Management LLC now owns 31,261 shares of the company’s stock worth $68,000 after buying an additional 18,077 shares during the last quarter. Virtu Financial LLC lifted its stake in shares of Xenetic Biosciences by 89.8% in the first quarter. Virtu Financial LLC now owns 37,196 shares of the company’s stock worth $81,000 after buying an additional 17,598 shares during the last quarter. Citadel Advisors LLC acquired a new position in Xenetic Biosciences during the 1st quarter valued at $201,000. Finally, Renaissance Technologies LLC raised its stake in shares of Xenetic Biosciences by 47.6% in the 1st quarter. Renaissance Technologies LLC now owns 251,149 shares of the company’s stock valued at $548,000 after buying an additional 80,949 shares in the last quarter. 4.87% of the stock is currently owned by institutional investors and hedge funds.

Xenetic Biosciences Company Profile

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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