X4 Pharmaceuticals (NASDAQ:XFOR) Trading Down 4% – Here’s What Happened

X4 Pharmaceuticals, Inc. (NASDAQ:XFOR) fell 4% during mid-day trading on Monday . The company traded as low as $3.00 and last traded at $3.10. 168,078 shares changed hands during mid-day trading, an increase of 70% from the average session volume of 98,832 shares. The stock had previously closed at $3.23.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on XFOR. HC Wainwright boosted their price objective on shares of X4 Pharmaceuticals from $1.50 to $7.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price objective on shares of X4 Pharmaceuticals in a report on Wednesday, March 26th.

X4 Pharmaceuticals Stock Up 9.4%

The company has a debt-to-equity ratio of 1.26, a quick ratio of 4.80 and a current ratio of 4.89. The stock has a market cap of $19.62 million, a P/E ratio of -37.66 and a beta of 0.73. The stock’s fifty day simple moving average is $5.25 and its 200-day simple moving average is $11.68.

X4 Pharmaceuticals (NASDAQ:XFOR) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.13) by $4.17. The firm had revenue of $28.81 million for the quarter, compared to analyst estimates of $7.03 million. As a group, research analysts forecast that X4 Pharmaceuticals, Inc. will post -0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position in X4 Pharmaceuticals by 20.3% during the fourth quarter. Bank of America Corp DE now owns 133,502 shares of the company’s stock valued at $98,000 after purchasing an additional 22,485 shares in the last quarter. Point72 Asset Management L.P. raised its position in X4 Pharmaceuticals by 4.0% during the fourth quarter. Point72 Asset Management L.P. now owns 650,000 shares of the company’s stock valued at $477,000 after purchasing an additional 24,948 shares in the last quarter. Wells Fargo & Company MN raised its position in X4 Pharmaceuticals by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 78,518 shares of the company’s stock valued at $58,000 after purchasing an additional 26,763 shares in the last quarter. Northern Trust Corp raised its position in X4 Pharmaceuticals by 2.9% during the fourth quarter. Northern Trust Corp now owns 1,357,539 shares of the company’s stock valued at $996,000 after purchasing an additional 37,940 shares in the last quarter. Finally, Cantor Fitzgerald L. P. acquired a new position in X4 Pharmaceuticals during the fourth quarter valued at approximately $30,000. 72.03% of the stock is currently 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.