Lixte Biotechnology (NASDAQ:NMAD) Stock Falls 5.1% – Time to Sell?

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Weiss Ratings raised shares of Lixte Biotechnology from a “sell (e)” rating to a “sell (d)” rating in a report on Friday, September 25th. 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 research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock has an average rating of “Sell”.

Lixte Biotechnology Price Performance

The stock has a 50-day moving average price of $4.30 and a two-hundred day moving average price of $5.32. 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 posted its earnings results on Friday, August 14th. The company reported ($0.16) EPS for the quarter.

Institutional Investors Weigh In On Lixte Biotechnology

A number of hedge funds have recently bought and sold shares of the business. Legacy Wealth Managment LLC ID purchased a new stake in shares of Lixte Biotechnology in the second quarter worth approximately $4,457,000. BlackRock Inc. bought a new stake in shares of Lixte Biotechnology during the 2nd quarter worth approximately $564,000. Equitable Holdings Inc. purchased a new position in Lixte Biotechnology during the 2nd quarter valued at $74,000. Finally, FNY Investment Advisers LLC purchased a new position in Lixte Biotechnology during the 2nd quarter valued at $330,000. Hedge funds and other 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 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.