XBiotech (NASDAQ:XBIT) Shares Pass Below 200-Day Moving Average – What’s Next?

Shares of XBiotech Inc. (NASDAQ:XBIT) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.43 and traded as low as $2.35. XBiotech shares last traded at $2.35, with a volume of 14,913 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of XBiotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, XBiotech presently has an average rating of “Sell”.

XBiotech Stock Performance

The business has a 50-day moving average price of $2.43 and a 200 day moving average price of $2.43. The stock has a market capitalization of $71.65 million, a P/E ratio of -1.78 and a beta of 0.85.

XBiotech (NASDAQ:XBIT) last issued its quarterly earnings results on Thursday, May 14th. The biopharmaceutical company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.21).

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of XBIT. Persistent Asset Partners Ltd purchased a new position in shares of XBiotech in the fourth quarter worth $32,000. XTX Topco Ltd raised its stake in shares of XBiotech by 44.1% in the fourth quarter. XTX Topco Ltd now owns 21,703 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 6,647 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of XBiotech in the first quarter worth $53,000. Bank of America Corp DE raised its stake in shares of XBiotech by 41.5% in the second quarter. Bank of America Corp DE now owns 18,208 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 5,344 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of XBiotech by 27.1% in the second quarter. BNP Paribas Financial Markets now owns 20,729 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 4,416 shares during the last quarter. Hedge funds and other institutional investors own 55.70% of the company’s stock.

XBiotech Company Profile

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.