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

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

Wall Street Analysts Forecast Growth

LIXT has been the topic of a number of analyst reports. 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 raised Lixte Biotechnology to a “hold” rating in a report on Saturday, June 13th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Lixte Biotechnology Trading Up 4.2%

The business’s 50-day moving average is $7.31 and its two-hundred day moving average is $4.88. The firm has a market cap of $112.80 million, a P/E 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.

Institutional Investors Weigh In On Lixte Biotechnology

Hedge funds have recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC bought a new position in shares of Lixte Biotechnology during the fourth quarter worth about $54,000. XTX Topco Ltd bought a new stake in Lixte Biotechnology in the 4th quarter valued at about $57,000. FNY Investment Advisers LLC acquired a new position in Lixte Biotechnology during the 2nd quarter valued at about $330,000. Geode Capital Management LLC boosted its stake in Lixte Biotechnology by 25.9% during the 4th quarter. Geode Capital Management LLC now owns 52,163 shares of the company’s stock valued at $205,000 after purchasing an additional 10,722 shares during the period. Finally, DRW Securities LLC grew its position in Lixte Biotechnology by 11.6% in the 4th quarter. DRW Securities LLC now owns 54,126 shares of the company’s stock worth $213,000 after purchasing an additional 5,645 shares during the last quarter. 5.10% of the stock is currently owned by institutional investors.

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.