XBiotech (NASDAQ:XBIT) Shares Cross Above 50 Day Moving Average – Time to Sell?

XBiotech Inc. (NASDAQ:XBIT)’s share price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $3.37 and traded as high as $3.46. XBiotech shares last traded at $3.30, with a volume of 21,241 shares changing hands.

XBiotech Stock Performance

The firm’s 50-day moving average is $3.34 and its two-hundred day moving average is $5.39. The stock has a market cap of $98.78 million, a P/E ratio of -3.00 and a beta of 1.25.

XBiotech (NASDAQ:XBIT) last issued its quarterly earnings results on Tuesday, March 18th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On XBiotech

Several institutional investors have recently modified their holdings of XBIT. Geode Capital Management LLC lifted its holdings in XBiotech by 5.1% in the third quarter. Geode Capital Management LLC now owns 452,264 shares of the biopharmaceutical company’s stock valued at $3,496,000 after buying an additional 22,059 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in XBiotech by 2.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 253,770 shares of the biopharmaceutical company’s stock valued at $1,962,000 after buying an additional 5,500 shares during the period. State Street Corp boosted its holdings in XBiotech by 10.7% during the third quarter. State Street Corp now owns 224,595 shares of the biopharmaceutical company’s stock worth $1,736,000 after buying an additional 21,752 shares during the last quarter. Northern Trust Corp grew its position in shares of XBiotech by 15.2% during the 4th quarter. Northern Trust Corp now owns 211,476 shares of the biopharmaceutical company’s stock worth $835,000 after buying an additional 27,909 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of XBiotech by 7.5% during the 4th quarter. Bank of New York Mellon Corp now owns 91,060 shares of the biopharmaceutical company’s stock worth $360,000 after buying an additional 6,328 shares during the period. Institutional investors and hedge funds own 55.70% of the company’s stock.

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.