HC Wainwright Cuts X4 Pharmaceuticals (NASDAQ:XFOR) Price Target to $1.50

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

Separately, Stifel Nicolaus dropped their target price on shares of 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

Shares of XFOR opened at $0.40 on Thursday. The company has a 50-day simple moving average of $0.58 and a 200-day simple moving average of $0.75. The company has a quick ratio of 6.04, a current ratio of 6.07 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $67.99 million, a PE ratio of -4.48 and a beta of 0.39. X4 Pharmaceuticals has a 52-week low of $0.26 and a 52-week high of $1.60.

X4 Pharmaceuticals (NASDAQ:XFOR) last posted its earnings results on Wednesday, August 14th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $3.43 million for the quarter. Equities research analysts predict that X4 Pharmaceuticals will post -0.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Adam S. Mostafa sold 230,645 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $0.55, for a total value of $126,854.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Paula Ragan sold 239,436 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 1,057,713 shares in the company, valued at $581,742.15. This represents a 18.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 580,800 shares of company stock valued at $321,447 in the last ninety days. Insiders own 1.62% of the company’s stock.

Institutional Investors Weigh In On X4 Pharmaceuticals

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

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.