XBiotech (NASDAQ:XBIT) Share Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

XBiotech Inc. (NASDAQ:XBIT)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.43 and traded as low as $2.31. XBiotech shares last traded at $2.31, with a volume of 40,393 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of XBiotech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 12th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

XBiotech Price Performance

The stock has a fifty day moving average price of $2.43 and a 200 day moving average price of $2.43. The stock has a market capitalization of $70.43 million, a P/E ratio of -1.75 and a beta of 0.85.

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

Hedge Funds Weigh In On XBiotech

Large investors have recently modified their holdings of the company. Bank of America Corp DE grew its stake in XBiotech by 42.0% during the fourth quarter. Bank of America Corp DE now owns 19,888 shares of the biopharmaceutical company’s stock valued at $79,000 after acquiring an additional 5,887 shares in the last quarter. XTX Topco Ltd purchased a new stake in XBiotech in the 2nd quarter worth approximately $61,000. Qube Research & Technologies Ltd bought a new position in XBiotech in the 2nd quarter valued at $96,000. Jane Street Group LLC bought a new position in XBiotech in the 2nd quarter valued at $75,000. Finally, BNP Paribas Financial Markets boosted its holdings in XBiotech by 27.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 20,729 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 4,416 shares during the period. 55.70% of the stock is currently owned by institutional investors.

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.