XBiotech (NASDAQ:XBIT) Posts Quarterly Earnings Results, Misses Expectations By $0.21 EPS

XBiotech (NASDAQ:XBIT) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.21), FiscalAI reports.

XBiotech Price Performance

XBIT traded up $0.02 on Thursday, hitting $2.52. 3,824 shares of the stock were exchanged, compared to its average volume of 37,465. XBiotech has a 12 month low of $2.09 and a 12 month high of $3.61. The business has a 50-day moving average of $2.40 and a two-hundred day moving average of $2.43. The firm has a market capitalization of $76.83 million, a price-to-earnings ratio of -1.68 and a beta of 0.88.

Institutional Investors Weigh In On XBiotech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its stake in XBiotech by 27.1% during the second quarter. BNP Paribas Financial Markets now owns 20,729 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 4,416 shares during the last quarter. Bank of America Corp DE lifted its stake 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 purchasing an additional 5,344 shares during the last quarter. State Street Corp lifted its stake in XBiotech by 8.5% during the fourth quarter. State Street Corp now owns 73,006 shares of the biopharmaceutical company’s stock worth $174,000 after purchasing an additional 5,700 shares during the last quarter. XTX Topco Ltd lifted its stake in XBiotech by 44.1% during the fourth quarter. XTX Topco Ltd now owns 21,703 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 6,647 shares during the last quarter. Finally, Citadel Advisors LLC lifted its stake in XBiotech by 31.8% during the third quarter. Citadel Advisors LLC now owns 42,816 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 10,333 shares during the last quarter. 55.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings cut XBiotech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, XBiotech presently has a consensus rating of “Sell”.

XBiotech Company Profile

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.