Lixte Biotechnology (NASDAQ:NMAD) Stock Price Down 1.4% – What’s Next?

Lixte Biotechnology Holdings, Inc. (NASDAQ:NMAD) dropped 1.4% on Friday. The stock traded as low as $3.56 and last traded at $3.58. 194,756 shares changed hands during mid-day trading, a decline of 10% from the average daily volume of 215,956 shares. The stock had previously closed at $3.63.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Weiss Ratings cut Lixte Biotechnology from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday, August 14th. Wall Street Zen lowered shares of Lixte Biotechnology from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Lixte Biotechnology Stock Performance

The firm has a 50 day simple moving average of $5.33 and a two-hundred day simple moving average of $5.19. The stock has a market cap of $57.64 million, a P/E ratio of -3.58 and a beta of 1.30.

Lixte Biotechnology (NASDAQ:NMAD) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.16) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Lixte Biotechnology

A number of institutional investors and hedge funds have recently bought and sold shares of NMAD. Legacy Wealth Managment LLC ID acquired a new position in Lixte Biotechnology during the 2nd quarter valued at about $4,457,000. Equitable Holdings Inc. acquired a new stake in shares of Lixte Biotechnology in the 2nd quarter worth approximately $74,000. BlackRock Inc. acquired a new stake in shares of Lixte Biotechnology in the 2nd quarter worth approximately $564,000. FNY Investment Advisers LLC bought a new position in shares of Lixte Biotechnology in the second quarter valued at approximately $330,000. Finally, Axxcess Wealth Management LLC bought a new position in shares of Lixte Biotechnology in the fourth quarter valued at approximately $54,000. Institutional investors own 5.10% of the company’s stock.

Lixte Biotechnology Company Profile

Lixte Biotechnology Holdings, Inc is a clinical-stage biotechnology company focused on developing cancer therapies that target protein phosphatase 2A (PP2A), an enzyme involved in regulating cell growth, survival and response to treatment. The company’s research is based on the premise that inhibiting PP2A may help make cancer cells more vulnerable to existing therapies.

Lixte’s lead investigational compound is LB-100, a small-molecule PP2A inhibitor being evaluated in combination with other cancer treatments.