XORTX Therapeutics (NASDAQ:XRTX) Share Price Crosses Above 200 Day Moving Average – Here’s Why

XORTX Therapeutics Inc. (NASDAQ:XRTX)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.20 and traded as high as $2.45. XORTX Therapeutics shares last traded at $2.31, with a volume of 14,279 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of XORTX Therapeutics in a report on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

XORTX Therapeutics Price Performance

The stock’s 50-day moving average is $2.12 and its two-hundred day moving average is $2.20. The company has a market cap of $4.20 million, a P/E ratio of -0.85 and a beta of 0.75.

XORTX Therapeutics (NASDAQ:XRTX) last posted its earnings results on Saturday, August 15th. The technology company reported ($1.05) EPS for the quarter.

Institutional Trading of XORTX Therapeutics

A hedge fund recently raised its stake in XORTX Therapeutics stock. Citadel Advisors LLC raised its position in shares of XORTX Therapeutics Inc. (NASDAQ:XRTX) by 124.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 86,326 shares of the technology company’s stock after purchasing an additional 47,858 shares during the quarter. Citadel Advisors LLC owned 1.24% of XORTX Therapeutics worth $70,000 as of its most recent SEC filing. 0.23% of the stock is owned by hedge funds and other institutional investors.

XORTX Therapeutics Company Profile

Xyratex Ltd (Xyratex) is a provider of data storage technology, including modular solutions for the enterprise data storage industry and hard disk drive (HDD) capital equipment for the HDD industry. Xyratex operates in two segments: Networked Storage Solutions (NSS) and Storage Infrastructure (SI). Its NSS products are primarily HDD based data storage subsystems and solutions, which it provides to original equipment manufacturers. Its SI products consist of HDD manufacturing process equipment, which it sells directly to manufacturers of HDDs and their component suppliers.