XBiotech (NASDAQ:XBIT) Stock Price Passes Below 50-Day Moving Average – Time to Sell?

XBiotech Inc. (NASDAQ:XBIT) shares crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $2.50 and traded as low as $2.30. XBiotech shares last traded at $2.31, with a volume of 23,662 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of XBiotech in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, XBiotech currently has a consensus rating of “Sell”.

XBiotech Trading Down 2.5%

The company’s 50 day simple moving average is $2.50 and its 200 day simple moving average is $2.64. The stock has a market capitalization of $70.43 million, a PE ratio of -2.41 and a beta of 0.86.

XBiotech (NASDAQ:XBIT) last posted its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.20) EPS for the quarter.

Hedge Funds Weigh In On XBiotech

Several hedge funds and other institutional investors have recently bought and sold shares of XBIT. RBF Capital LLC acquired a new stake in XBiotech in the second quarter worth $594,000. Y Intercept Hong Kong Ltd bought a new position in shares of XBiotech during the second quarter worth about $142,000. Citadel Advisors LLC increased its holdings in shares of XBiotech by 31.8% in the 3rd quarter. Citadel Advisors LLC now owns 42,816 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 10,333 shares during the period. Bank of America Corp DE lifted its position in XBiotech by 160.3% in the 3rd quarter. Bank of America Corp DE now owns 47,389 shares of the biopharmaceutical company’s stock valued at $126,000 after purchasing an additional 29,181 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in XBiotech by 56.3% in the 3rd quarter. Squarepoint Ops LLC now owns 62,159 shares of the biopharmaceutical company’s stock valued at $165,000 after purchasing an additional 22,383 shares during the last quarter. 55.70% of the stock is owned by institutional investors and hedge funds.

About XBiotech

XBiotech Inc is a clinical-stage biopharmaceutical company developing human antibodies to treat cancer and other inflammatory-driven diseases. The company’s core technology, the True Human™ antibody platform, enables the discovery and development of monoclonal antibodies that mimic the human immune response without the need for genetic humanization. XBiotech’s lead therapeutic candidate targets interleukin-1 alpha (IL-1α), a key mediator of inflammation associated with tumor growth and chronic disease.

The company’s most advanced program, Xilonix® (MABp1), is a first-in-class anti-IL-1α antibody that has completed Phase 3 clinical trials in metastatic colorectal cancer patients.