XBiotech (NASDAQ:XBIT) Shares Pass Above 50-Day Moving Average of $7.19

XBiotech Inc. (NASDAQ:XBIT)’s stock price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $7.19 and traded as high as $9.19. XBiotech shares last traded at $8.11, with a volume of 81,922 shares traded.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on XBiotech in a research report on Thursday, February 15th. They issued a “sell” rating for the company.

XBiotech Stock Performance

The stock has a market cap of $244.83 million, a P/E ratio of -9.80 and a beta of 1.45. The firm has a 50-day moving average price of $7.23 and a 200-day moving average price of $5.25.

XBiotech (NASDAQ:XBIT) last posted its quarterly earnings data on Friday, March 15th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter.

Institutional Trading of XBiotech

Institutional investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP boosted its stake in XBiotech by 22.3% during the 3rd quarter. Two Sigma Investments LP now owns 77,097 shares of the biopharmaceutical company’s stock valued at $279,000 after purchasing an additional 14,048 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of XBiotech by 117.9% in the 3rd quarter. Two Sigma Advisers LP now owns 69,300 shares of the biopharmaceutical company’s stock worth $251,000 after buying an additional 37,500 shares during the last quarter. Man Group plc boosted its stake in shares of XBiotech by 183.3% in the 4th quarter. Man Group plc now owns 49,013 shares of the biopharmaceutical company’s stock worth $172,000 after buying an additional 31,713 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of XBiotech in the 2nd quarter worth $153,000. Finally, Susquehanna International Group LLP purchased a new position in shares of XBiotech in the 1st quarter worth $132,000. 55.70% of the stock is currently owned by hedge funds and other institutional investors.

About XBiotech

XBiotech Inc, a biopharmaceutical company, discovers, develops, and commercializes True Human monoclonal antibodies for treating various diseases. The company focuses on developing a pipeline of product candidates targeting both inflammatory and infectious diseases. It is also developing interleukin-1 alpha therapies to treat variety of medical conditions, such as cancer, stroke, heart attack, or arthritis; and mediates tissue breakdown, angiogenesis, the formation of blood clots, malaise, muscle wasting, and inflammation.