Xenetic Biosciences Inc (NASDAQ:XBIO) shares rose 15.3% during trading on Friday . The company traded as high as $1.94 and last traded at $1.88, approximately 428,000 shares were traded during mid-day trading. An increase of 327% from the average daily volume of 100,214 shares. The stock had previously closed at $1.63.
The stock has a 50 day moving average price of $6.15 and a 200 day moving average price of $2.79.
An institutional investor recently raised its position in Xenetic Biosciences stock. Morgan Stanley raised its stake in shares of Xenetic Biosciences Inc (NASDAQ:XBIO) by 1,050.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,082 shares of the company’s stock after purchasing an additional 32,945 shares during the period. Morgan Stanley owned 4.14% of Xenetic Biosciences worth $406,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 3.93% of the company’s stock.
Xenetic Biosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, research, and development of next-generation biologic drugs and novel orphan oncology therapeutics. The company's lead investigational product candidate is oncology therapeutic XBIO-101 (sodium cridanimod) for the treatment of progesterone resistant endometrial cancer.
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