Analyst: No Catalyst For Big Move In XOMA, Could Be Traders Bottom Feeding Stock

• Shares of XOMA Corp XOMA were trading up roughly 27.5 percent on Tuesday, after gaining 22.13 percent on Monday trading.
• Wedbush's Dr. Liana Moussatos has an Outperform rating and $6 price target on the stock.

Shares of XOMA Corp rose 22.13 percent on Monday, and continued to surge about 27.5 percent on Tuesday.

Related Link: Wedbush See 470% Upside At Xoma

Wedbush's Dr. Liana Moussatos told Benzinga that, while she sees plenty of potential for the stock and the company in fiscal 2016, she sees no near-term catalysts driving Tuesday’s escalation.

Moussatos added the surge could be a result of traders bottom feeding the stock.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.