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

Shares of XBiotech Inc. (NASDAQ:XBIT) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $2.43 and traded as low as $2.40. XBiotech shares last traded at $2.42, with a volume of 44,015 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded XBiotech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

XBiotech Trading Down 0.8%

The business has a 50-day moving average price of $2.43 and a two-hundred day moving average price of $2.44. The stock has a market capitalization of $73.78 million, a P/E ratio of -1.83 and a beta of 0.88.

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

Institutional Investors Weigh In On XBiotech

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC grew its position in XBiotech by 25.1% during the 4th quarter. Jane Street Group LLC now owns 69,738 shares of the biopharmaceutical company’s stock worth $167,000 after acquiring an additional 13,971 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of XBiotech by 56.3% during 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 in the last quarter. Bank of America Corp DE boosted its position in shares of XBiotech by 160.3% during 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 in the last quarter. Citadel Advisors LLC boosted its position in shares of XBiotech by 31.8% during the 3rd quarter. Citadel Advisors LLC now owns 42,816 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 10,333 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of XBiotech during the 2nd quarter valued at about $96,000. Institutional investors own 55.70% of the company’s stock.

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.