HC Wainwright Issues Pessimistic Forecast for X4 Pharmaceuticals (NASDAQ:XFOR) Stock Price

X4 Pharmaceuticals (NASDAQ:XFOR) had its price target lowered by HC Wainwright from $5.00 to $1.50 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Stifel Nicolaus dropped their price objective on X4 Pharmaceuticals from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday.

X4 Pharmaceuticals Stock Performance

XFOR stock traded down $0.01 during trading hours on Thursday, hitting $0.40. 2,436,015 shares of the stock were exchanged, compared to its average volume of 2,343,817. X4 Pharmaceuticals has a 12 month low of $0.26 and a 12 month high of $1.60. The company has a current ratio of 6.07, a quick ratio of 6.04 and a debt-to-equity ratio of 0.79. The company has a 50-day simple moving average of $0.59 and a two-hundred day simple moving average of $0.75. The firm has a market capitalization of $67.87 million, a P/E ratio of -4.42 and a beta of 0.39.

X4 Pharmaceuticals (NASDAQ:XFOR) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $3.43 million for the quarter. On average, analysts forecast that X4 Pharmaceuticals will post -0.65 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Mary Dibiase sold 67,695 shares of X4 Pharmaceuticals stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $0.57, for a total value of $38,586.15. Following the sale, the chief operating officer now owns 452,060 shares in the company, valued at $257,674.20. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Paula Ragan sold 239,436 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $0.55, for a total transaction of $131,689.80. Following the completion of the transaction, the chief executive officer now directly owns 1,057,713 shares in the company, valued at approximately $581,742.15. This represents a 18.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 580,800 shares of company stock worth $321,447. Corporate insiders own 1.62% of the company’s stock.

Hedge Funds Weigh In On X4 Pharmaceuticals

A number of institutional investors have recently bought and sold shares of XFOR. Price T Rowe Associates Inc. MD raised its stake in shares of X4 Pharmaceuticals by 46.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,307 shares of the company’s stock valued at $55,000 after acquiring an additional 12,514 shares during the period. Bank of New York Mellon Corp grew its holdings in X4 Pharmaceuticals by 39.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 469,372 shares of the company’s stock worth $272,000 after acquiring an additional 133,398 shares in the last quarter. Rhumbline Advisers lifted its position in shares of X4 Pharmaceuticals by 14.6% during the 2nd quarter. Rhumbline Advisers now owns 187,246 shares of the company’s stock worth $109,000 after buying an additional 23,831 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of X4 Pharmaceuticals during the 2nd quarter worth approximately $65,000. Finally, Ensign Peak Advisors Inc lifted its position in shares of X4 Pharmaceuticals by 4.6% during the 2nd quarter. Ensign Peak Advisors Inc now owns 2,546,458 shares of the company’s stock worth $1,477,000 after buying an additional 111,032 shares during the last quarter. 72.03% of the stock is owned by hedge funds and other institutional investors.

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.