HC Wainwright Reiterates “Buy” Rating for X4 Pharmaceuticals (NASDAQ:XFOR)

X4 Pharmaceuticals (NASDAQ:XFOR)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research report issued on Thursday,Benzinga reports. They presently have a $1.50 price target on the stock. HC Wainwright’s target price indicates a potential upside of 456.79% from the stock’s previous close.

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $3.00 price objective on shares of X4 Pharmaceuticals in a research report on Wednesday.

X4 Pharmaceuticals Stock Performance

Shares of XFOR stock opened at $0.27 on Thursday. X4 Pharmaceuticals has a 12-month low of $0.24 and a 12-month high of $1.60. The business’s fifty day simple moving average is $0.44 and its 200-day simple moving average is $0.53. The company has a current ratio of 4.89, a quick ratio of 4.80 and a debt-to-equity ratio of 1.26. The company has a market cap of $46.78 million, a PE ratio of -2.99 and a beta of 0.39.

X4 Pharmaceuticals (NASDAQ:XFOR) last announced its earnings results on Tuesday, March 25th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The company had revenue of $1.43 million during the quarter, compared to the consensus estimate of $1.07 million. Analysts expect that X4 Pharmaceuticals will post -0.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Adam S. Mostafa sold 74,773 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $0.45, for a total value of $33,647.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Paula Ragan sold 76,473 shares of X4 Pharmaceuticals stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $0.45, for a total value of $34,412.85. Following the sale, the chief executive officer now directly owns 1,087,386 shares of the company’s stock, valued at $489,323.70. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,663 shares of company stock valued at $91,198. 1.62% of the stock is owned by company insiders.

Institutional Trading of X4 Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Verition Fund Management LLC acquired a new stake in X4 Pharmaceuticals during the 3rd quarter worth about $30,000. Point72 Asset Management L.P. boosted its stake in shares of X4 Pharmaceuticals by 15.1% in the third quarter. Point72 Asset Management L.P. now owns 625,052 shares of the company’s stock worth $418,000 after buying an additional 81,968 shares during the last quarter. State Street Corp grew its holdings in X4 Pharmaceuticals by 6.8% during the third quarter. State Street Corp now owns 2,952,895 shares of the company’s stock worth $1,976,000 after acquiring an additional 189,105 shares during the period. Jane Street Group LLC raised its position in X4 Pharmaceuticals by 103.4% during the third quarter. Jane Street Group LLC now owns 248,447 shares of the company’s stock valued at $166,000 after acquiring an additional 126,296 shares in the last quarter. Finally, XTX Topco Ltd lifted its holdings in X4 Pharmaceuticals by 41.7% in the third quarter. XTX Topco Ltd now owns 157,642 shares of the company’s stock valued at $106,000 after acquiring an additional 46,397 shares during the period. Institutional investors and hedge funds own 72.03% of the company’s stock.

About X4 Pharmaceuticals

X4 Pharmaceuticals, Inc, a late-stage clinical biopharmaceutical company, focuses on the research, development, and commercialization of novel therapeutics for the treatment of rare diseases. Its lead product candidate is mavorixafor, a small molecule inhibitor of the chemokine receptor C-X-C chemokine receptor type 4 (CXCR4), which is in Phase III clinical trial for the treatment of patients with warts, hypogammaglobulinemia, infections, and myelokathexis syndrome; and Phase II clinical trial to treat congenital, idiopathic, or cyclic neutropenia.