Piper Jaffray Companies Begins Coverage on XBiotech (NASDAQ:XBIT)

Investment analysts at Piper Jaffray Companies started coverage on shares of XBiotech (NASDAQ:XBIT) in a research report issued to clients and investors on Friday, The Fly reports. The firm set an “overweight” rating on the biopharmaceutical company’s stock.

Separately, BidaskClub lowered shares of XBiotech from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 9th.

Shares of NASDAQ XBIT opened at $6.99 on Friday. XBiotech has a 1 year low of $2.13 and a 1 year high of $11.74.

In other news, major shareholder Fondation Rennes bought 1,200,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was acquired at an average price of $8.25 per share, for a total transaction of $9,900,000.00. Following the transaction, the insider now directly owns 5,110,282 shares of the company’s stock, valued at approximately $42,159,826.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 37.00% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in XBIT. Vanguard Group Inc. raised its stake in XBiotech by 5.5% in the third quarter. Vanguard Group Inc. now owns 834,523 shares of the biopharmaceutical company’s stock valued at $2,654,000 after purchasing an additional 43,648 shares in the last quarter. Tibra Equities Europe Ltd acquired a new position in XBiotech during the first quarter worth about $750,000. Vanguard Group Inc raised its stake in XBiotech by 5.5% during the third quarter. Vanguard Group Inc now owns 834,523 shares of the biopharmaceutical company’s stock worth $2,654,000 after acquiring an additional 43,648 shares in the last quarter. Birchview Capital LP bought a new stake in shares of XBiotech during the first quarter worth about $110,000. Finally, Marshall Wace LLP bought a new stake in XBiotech in the first quarter valued at approximately $682,000. 7.05% of the stock is owned by institutional investors and hedge funds.

XBiotech Company Profile

XBiotech Inc, a pre-market biopharmaceutical company, engages in discovering and developing True Human monoclonal antibodies for treating various diseases. The company's lead product is bermekimab, a therapeutic antibody that neutralizes interleukin-1 alpha, which has completed Phase III clinical trial in Europe for the treatment of symptomatic and advanced colorectal cancer.

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The Fly

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