Xenetic Biosciences (NASDAQ:XBIO) Stock Sees Bullish Move: How to Trade This Week?
Xenetic Biosciences (NASDAQ: XBIO) jumped 35.5% despite the small-cap company not reporting any news. However, the surge seems to be related to a close partner pushing the stock up with its massive expansion plans.
The Massachusetts-based small biotech company established in 1997 is looking to create cell-based therapeutics targeting tumor neoantigens. Xenetic’s claim to popularity lies on the PolyXen drug administration platform that promises to extend the half-life of most biologic treatments.
The stock witnessed a massive boost in stock value, jumping more than 125% in a session with considerable movement in volume. Almost 240 million shares exchanged hands relative to XBIO’s average daily volume of 445,000. However, without any news, investors may be wondering what is happening. This price-doubling is a result of Takeda Pharmaceuticals announcing a $126 million exp0ansion in California. Xenetic and Takeda have an exclusive agreement for Takeda to use the PoluXen platform in coagulation disorders treatment. So, in the coming weeks, XBIO is a stock to watch.
Market Reaction:
On Friday, XBIO stock soared 35.50% at $2.52 with more than 300.54 million shares, compared to its average volume of 5.21 million shares. The stock has moved within a range of $2.1800 – 4.7500 after opening the trade at $2.20. Over the past 52-week, the stock has been trading within a range of $0.7600 – 5.8500.
