Lixte Biotechnology (NASDAQ:NMAD) Stock Falls 5.1% – What’s Next?

Lixte Biotechnology Holdings, Inc. (NASDAQ:NMAD)’s stock price fell 5.1% on Friday. The company traded as low as $3.85 and last traded at $3.88. 96,872 shares traded hands during trading, a decline of 49% from the average session volume of 191,188 shares. The stock had previously closed at $4.09.

Analysts Set New Price Targets

NMAD has been the topic of a number of recent research reports. Weiss Ratings raised shares of Lixte Biotechnology from a “sell (e)” rating to a “sell (d)” rating in a research note on Friday, September 25th. Wall Street Zen downgraded shares of Lixte Biotechnology from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Lixte Biotechnology has a consensus rating of “Sell”.

Lixte Biotechnology Trading Down 5.1%

The business has a 50-day moving average price of $4.30 and a 200 day moving average price of $5.31. The stock has a market cap of $62.47 million, a PE ratio of -3.88 and a beta of 1.25.

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

Institutional Trading of Lixte Biotechnology

A number of institutional investors have recently made changes to their positions in the stock. Legacy Wealth Managment LLC ID purchased a new position in shares of Lixte Biotechnology in the second quarter valued at about $4,457,000. BlackRock Inc. purchased a new stake in shares of Lixte Biotechnology during the second quarter worth about $564,000. FNY Investment Advisers LLC bought a new stake in shares of Lixte Biotechnology in the second quarter worth about $330,000. Finally, Equitable Holdings Inc. bought a new stake in shares of Lixte Biotechnology in the second quarter worth about $74,000. Hedge funds and other institutional investors own 5.10% of the company’s stock.

About Lixte Biotechnology

Lixte Biotechnology Holdings, Inc is a clinical-stage biotechnology company focused on developing cancer treatments based on protein phosphatase 2A (PP2A), an enzyme involved in regulating cell growth, survival and response to therapy. The company’s research is intended to identify ways to inhibit PP2A and improve the effectiveness of existing cancer treatments.

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