XBiotech (NASDAQ:XBIT) Stock Crosses Below 50 Day Moving Average of $4.67

XBiotech Inc. (NASDAQ:XBITGet Rating) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $4.67 and traded as low as $3.76. XBiotech shares last traded at $3.83, with a volume of 28,919 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com downgraded XBiotech from a “hold” rating to a “sell” rating in a research report on Friday, September 2nd.

XBiotech Stock Up 0.8 %

The stock has a 50-day simple moving average of $4.67 and a 200 day simple moving average of $6.25.

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

Hedge Funds Weigh In On XBiotech

Several hedge funds and other institutional investors have recently modified their holdings of XBIT. PDT Partners LLC lifted its position in shares of XBiotech by 29.9% during the 2nd quarter. PDT Partners LLC now owns 16,976 shares of the biopharmaceutical company’s stock worth $96,000 after buying an additional 3,912 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of XBiotech by 21.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 17,600 shares of the biopharmaceutical company’s stock worth $99,000 after buying an additional 3,146 shares during the period. Alberta Investment Management Corp bought a new position in shares of XBiotech during the 4th quarter worth approximately $126,000. JPMorgan Chase & Co. lifted its position in shares of XBiotech by 72.8% during the 1st quarter. JPMorgan Chase & Co. now owns 15,093 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 6,360 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its position in shares of XBiotech by 182.4% during the 4th quarter. BNP Paribas Arbitrage SA now owns 13,019 shares of the biopharmaceutical company’s stock worth $145,000 after buying an additional 8,409 shares during the period. Institutional investors own 11.05% of the company’s stock.

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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