XBiotech (NASDAQ:XBIT) Shares Pass Above Fifty Day Moving Average – Time to Sell?

XBiotech Inc. (NASDAQ:XBIT) shares passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $2.49 and traded as high as $2.56. XBiotech shares last traded at $2.51, with a volume of 9,081 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of XBiotech in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, XBiotech presently has an average rating of “Sell”.

XBiotech Trading Down 1.2%

The stock has a market cap of $76.53 million, a PE ratio of -2.61 and a beta of 0.81. The business has a fifty day simple moving average of $2.49 and a two-hundred day simple moving average of $2.67.

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

Institutional Investors Weigh In On XBiotech

A number of institutional investors have recently modified their holdings of XBIT. Bank of America Corp DE grew its holdings in shares of 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 buying an additional 5,887 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in XBiotech during the second quarter valued at $142,000. XTX Topco Ltd bought a new position in shares of XBiotech in the 2nd quarter worth approximately $61,000. Qube Research & Technologies Ltd bought a new position in XBiotech in the second quarter worth approximately $96,000. Finally, RBF Capital LLC bought a new position in XBiotech in the 2nd quarter worth $594,000. 55.70% of the stock is owned by hedge funds and other 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.