XBiotech (NASDAQ:XBIT) Shares Pass Below 50-Day Moving Average – What’s Next?

Shares of XBiotech Inc. (NASDAQ:XBIT) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $2.44 and traded as low as $2.40. XBiotech shares last traded at $2.53, with a volume of 74,129 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of XBiotech in a research note on Monday, December 15th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

XBiotech Price Performance

The company has a 50 day simple moving average of $2.44 and a 200-day simple moving average of $2.74. The stock has a market capitalization of $76.23 million, a P/E ratio of -2.60 and a beta of 0.78.

XBiotech (NASDAQ:XBIT) last announced its quarterly earnings data on Wednesday, November 12th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of XBIT. Hsbc Holdings PLC bought a new position in shares of XBiotech in the first quarter worth $52,000. Bank of America Corp DE grew its position in XBiotech by 41.5% during the second quarter. Bank of America Corp DE now owns 18,208 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 5,344 shares in the last quarter. XTX Topco Ltd purchased a new position in XBiotech during the second quarter worth about $61,000. BNP Paribas Financial Markets increased its stake in XBiotech by 27.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 20,729 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 4,416 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in XBiotech in the 2nd quarter worth about $75,000. 55.70% of the stock is owned by institutional investors.

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.