StockNews.com Lowers XBiotech (NASDAQ:XBIT) to Sell

StockNews.com cut shares of XBiotech (NASDAQ:XBITGet Rating) from a hold rating to a sell rating in a research report released on Friday morning.

XBiotech Price Performance

XBIT stock opened at $4.06 on Friday. The stock has a 50-day moving average price of $5.20 and a 200-day moving average price of $6.88. XBiotech has a 1-year low of $3.90 and a 1-year high of $16.47.

XBiotech (NASDAQ:XBITGet Rating) last posted its quarterly earnings data on Wednesday, August 10th. The biopharmaceutical company reported ($0.38) earnings per share for the quarter. XBiotech had a negative return on equity of 10.05% and a negative net margin of 242.26%. The business had revenue of $1.53 million during the quarter.

Institutional Trading of XBiotech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in XBiotech by 21.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 17,600 shares of the biopharmaceutical company’s stock valued at $99,000 after buying an additional 3,146 shares in the last quarter. Swiss National Bank increased its position in XBiotech by 8.8% in the 1st quarter. Swiss National Bank now owns 46,800 shares of the biopharmaceutical company’s stock valued at $404,000 after buying an additional 3,800 shares in the last quarter. PDT Partners LLC increased its position in XBiotech by 29.9% in the 2nd quarter. PDT Partners LLC now owns 16,976 shares of the biopharmaceutical company’s stock valued at $96,000 after buying an additional 3,912 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in XBiotech by 15.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 44,693 shares of the biopharmaceutical company’s stock valued at $387,000 after buying an additional 6,085 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in XBiotech by 72.8% in the 1st quarter. JPMorgan Chase & Co. now owns 15,093 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 6,360 shares in the last quarter. 11.05% of the stock is owned by institutional investors.

XBiotech Company Profile

(Get Rating)

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, and True Human COVID-19 therapy for treating the COVID-19 mutant virus.

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