XBiotech (NASDAQ:XBIT) Share Price Passes Below 200 Day Moving Average – Should You Sell?

XBiotech Inc. (NASDAQ:XBIT)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.43 and traded as low as $2.31. XBiotech shares last traded at $2.31, with a volume of 40,393 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded XBiotech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, XBiotech currently has an average rating of “Sell”.

XBiotech Price Performance

The firm has a market cap of $70.43 million, a PE ratio of -1.75 and a beta of 0.85. The company’s 50 day moving average price is $2.43 and its two-hundred day moving average price is $2.43.

XBiotech (NASDAQ:XBIT) last released its earnings results on Thursday, May 14th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.21).

Institutional Trading of XBiotech

Several institutional investors have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd bought a new position in shares of XBiotech during the second quarter valued at approximately $96,000. Bridgeway Capital Management LLC raised its holdings in shares of XBiotech by 50.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 89,547 shares of the biopharmaceutical company’s stock worth $214,000 after buying an additional 30,000 shares during the period. Bank of America Corp DE lifted its stake in shares of XBiotech by 160.3% during the 3rd quarter. Bank of America Corp DE now owns 47,389 shares of the biopharmaceutical company’s stock worth $126,000 after acquiring an additional 29,181 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of XBiotech during the 2nd quarter worth approximately $75,000. Finally, Renaissance Technologies LLC purchased a new position in XBiotech during the 1st quarter valued at $53,000. Institutional investors own 55.70% of the company’s stock.

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.