Shares of XOMA Corporation (NASDAQ:XOMA) shot up 2.3% during trading on Wednesday . The stock traded as high as $16.40 and last traded at $15.75. 529,371 shares were traded during mid-day trading, an increase of 438% from the average session volume of 98,469 shares. The stock had previously closed at $16.12.

Several brokerages have commented on XOMA. Zacks Investment Research lowered shares of XOMA Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. HC Wainwright began coverage on shares of XOMA Corporation in a research report on Monday, June 12th. They issued a “buy” rating and a $15.00 price objective on the stock. ValuEngine raised shares of XOMA Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Wedbush reaffirmed a “hold” rating on shares of XOMA Corporation in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $14.00.

The firm’s market cap is $137.14 million. The stock’s 50 day moving average is $8.88 and its 200-day moving average is $7.04.

An institutional investor recently raised its position in XOMA Corporation stock. California Public Employees Retirement System boosted its position in shares of XOMA Corporation (NASDAQ:XOMA) by 95.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,780 shares of the biotechnology company’s stock after acquiring an additional 10,640 shares during the period. California Public Employees Retirement System owned 0.29% of XOMA Corporation worth $123,000 at the end of the most recent quarter. Institutional investors and hedge funds own 32.92% of the company’s stock.

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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.