Lixte Biotechnology (NASDAQ:LIXT) Shares Up 4.2% – Time to Buy?

Lixte Biotechnology Holdings, Inc. (NASDAQ:LIXT) traded up 4.2% during mid-day trading on Friday . The stock traded as high as $7.99 and last traded at $7.51. 614,310 shares traded hands during mid-day trading, an increase of 21% from the average daily volume of 506,337 shares. The stock had previously closed at $7.21.

Analyst Ratings Changes

Several brokerages have issued reports on LIXT. Weiss Ratings lowered Lixte Biotechnology from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 26th. Wall Street Zen upgraded Lixte Biotechnology to a “hold” rating in a report on Saturday, June 13th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Lixte Biotechnology Price Performance

The stock’s 50-day moving average price is $7.31 and its 200 day moving average price is $4.88. The firm has a market capitalization of $112.80 million, a PE ratio of -6.65 and a beta of 1.24.

Lixte Biotechnology (NASDAQ:LIXT) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Lixte Biotechnology

A number of hedge funds and other institutional investors have recently made changes to their positions in LIXT. Axxcess Wealth Management LLC purchased a new position in shares of Lixte Biotechnology during the fourth quarter valued at $54,000. XTX Topco Ltd bought a new stake in shares of Lixte Biotechnology in the fourth quarter valued at about $57,000. FNY Investment Advisers LLC purchased a new stake in Lixte Biotechnology in the second quarter worth about $330,000. Geode Capital Management LLC lifted its stake in Lixte Biotechnology by 25.9% in the fourth quarter. Geode Capital Management LLC now owns 52,163 shares of the company’s stock worth $205,000 after acquiring an additional 10,722 shares during the period. Finally, DRW Securities LLC grew its holdings in Lixte Biotechnology by 11.6% during the 4th quarter. DRW Securities LLC now owns 54,126 shares of the company’s stock worth $213,000 after acquiring an additional 5,645 shares in the last quarter. Institutional investors own 5.10% of the company’s stock.

About Lixte Biotechnology

Lixte Biotechnology Holdings, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies for the treatment of cancer. The company’s research centers on selectively targeting key enzymes and pathways involved in DNA damage response and cell cycle regulation, with the goal of creating novel oncology drugs that improve patient outcomes with manageable safety profiles.

Lixte’s lead programs include selective inhibitors of cell cycle checkpoints and related targets, designed to potentiate the effects of standard-of-care chemotherapies and overcome resistance mechanisms.