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Why Is Xortx Therapeutics (XRTX) Stock Up 110% Today?


  • Xortx Therapeutics (XRTX) stock is rising higher without any clear news.
  • That increase comes alongside heavy trading of the company’s shares on Friday.
  • Investors will also want to keep an eye on a special shareholder meeting next week.
XRTX Stock - Why Is Xortx Therapeutics (XRTX) Stock Up 110% Today?

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Xortx Therapeutics (NASDAQ:XRTX) stock is climbing higher on Friday despite a lack of news from the pharmaceutical company.

There are no new press releases or filings with the U.S. Securities and Exchange Commission (SEC) from Xortx Therapeutics that would cause today’s rally. On that same note, no analysts are offering new coverage of the stock that would act as a catalyst for today’s movement.

Even so, shares of XRTX stock are rising higher on Friday with heavy trading. This has more than 11 million shares of the stock changing hands as of this writing. For the record, the company’s daily average trading volume is closer to 157,000 shares.

Upcoming Catalyst for XRTX Stock

Investors may see major stock movement from XRTX next week when the company holds a special shareholder meeting. That’s set to take place on Wednesday and will include a vote for a share consolidation resolution.

Xortx Therapeutics is looking to enact a reverse stock split as a way to boost the company’s share price. As it is right now, shares of XRTX are in danger of being delisted due to them trading below the $1 minimum bid price. Institutional Shareholder Services (ISS) recommends that shareholders vote in favor of the reverse stock split.

XRTX stock is up 110% as of Friday morning.

Investors looking for more of the most recent stock market stories are in the right place!

InvestorPlace is offering up all of the hottest stock market news that traders need to know about on Friday! Among that is what has shares of FaZe (NASDAQ:FAZE) stock up, the biggest pre-market stock movers this morning and more. All of that news is ready to go down below!

More Stock Market News for Friday

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/10/why-is-xortx-therapeutics-xrtx-stock-up-110-today/.

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