Shares of XOMA Corporation (NASDAQ:XOMA) saw strong trading volume on Tuesday . 1,813,317 shares traded hands during trading, an increase of 2,419% from the previous session’s volume of 71,981 shares.The stock last traded at $16.12 and had previously closed at $11.18.

A number of research analysts have recently weighed in on the stock. Wedbush raised shares of XOMA Corporation from a “neutral” rating to an “outperform” rating and increased their target price for the company from $9.00 to $19.00 in a research report on Tuesday. Zacks Investment Research downgraded shares of XOMA Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. HC Wainwright reissued a “buy” rating and set a $15.00 target price on shares of XOMA Corporation in a research report on Thursday, August 10th. Finally, ValuEngine raised shares of XOMA Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. XOMA Corporation presently has an average rating of “Hold” and a consensus target price of $14.00.

The firm’s market capitalization is $122.48 million. The company has a 50-day moving average of $8.06 and a 200-day moving average of $6.82.

A hedge fund recently raised its stake in XOMA Corporation stock. California Public Employees Retirement System raised its holdings in shares of XOMA Corporation (NASDAQ:XOMA) by 95.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,780 shares of the biotechnology company’s stock after purchasing an additional 10,640 shares during the quarter. California Public Employees Retirement System owned 0.29% of XOMA Corporation worth $123,000 as of its most recent filing with the Securities & Exchange Commission. 32.92% of the stock is owned by institutional investors and hedge funds.

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About XOMA Corporation

XOMA Corporation is a development-stage biotechnology company. The Company focuses on the discovery and development of monoclonal antibody-based therapeutics. It has five products in its endocrine portfolio, two of which are developed as part of its XOMA Metabolism (XMet) platform. Its products include XOMA 358, XOMA 129, XOMA 213 and Gevokizumab.