Zacks Investment Research Upgrades XBiotech Inc. (XBIT) to “Hold”
XBiotech Inc. (NASDAQ:XBIT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “XBiotech Inc. is a biopharmaceutical company. The Company is engaged in discovering and developing True Human(TM) monoclonal antibodies for treating diseases. XBiotech Inc. is based in AUSTIN, United States. “
Separately, Noble Financial reissued a “buy” rating and issued a $30.00 price target (up previously from $24.00) on shares of XBiotech in a research note on Tuesday, June 28th.
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Shares of XBiotech (NASDAQ:XBIT) opened at 14.40 on Wednesday. XBiotech has a 52-week low of $6.36 and a 52-week high of $25.00. The firm’s market capitalization is $467.16 million. The stock’s 50 day moving average is $13.55 and its 200 day moving average is $14.52.
Several large investors have recently made changes to their positions in XBIT. State Street Corp raised its stake in shares of XBiotech by 54.4% in the first quarter. State Street Corp now owns 40,560 shares of the biopharmaceutical company’s stock worth $383,000 after buying an additional 14,290 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of XBiotech by 1.6% in the first quarter. Geode Capital Management LLC now owns 41,170 shares of the biopharmaceutical company’s stock worth $389,000 after buying an additional 639 shares during the last quarter. Strs Ohio raised its stake in shares of XBiotech by 1,284.6% in the second quarter. Strs Ohio now owns 18,000 shares of the biopharmaceutical company’s stock worth $376,000 after buying an additional 16,700 shares during the last quarter. ING Groep NV acquired a new stake in shares of XBiotech during the second quarter worth $1,122,000. Finally, Bank of New York Mellon Corp raised its stake in shares of XBiotech by 341.5% in the second quarter. Bank of New York Mellon Corp now owns 58,049 shares of the biopharmaceutical company’s stock worth $1,214,000 after buying an additional 44,902 shares during the last quarter. Hedge funds and other institutional investors own 8.66% of the company’s stock.
XBiotech Inc is a clinical-stage biopharmaceutical company. The Company is engaged in discovering and developing True Human monoclonal antibodies for treating a range of diseases. The Company focuses on bringing its lead product candidate, Xilonix (MABp1), to market. The Company has also developed a True Human monoclonal antibody discovery platform and manufacturing system.
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