XBiotech (NASDAQ:XBIT) Announces Quarterly Earnings Results

XBiotech (NASDAQ:XBIT) posted its earnings results on Thursday. The biopharmaceutical company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.17), FiscalAI reports.

XBiotech Price Performance

Shares of NASDAQ XBIT traded up $0.02 during midday trading on Thursday, reaching $1.97. 10,635 shares of the company traded hands, compared to its average volume of 42,659. XBiotech has a 52 week low of $1.80 and a 52 week high of $2.90. The stock has a 50-day moving average price of $2.10 and a 200 day moving average price of $2.30. The company has a market cap of $60.03 million, a price-to-earnings ratio of -1.33 and a beta of 0.76.

Insiders Place Their Bets

In related news, Director John Simard bought 368,524 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The stock was purchased at an average price of $1.93 per share, for a total transaction of $711,251.32. Following the transaction, the director directly owned 4,191,690 shares of the company’s stock, valued at approximately $8,089,961.70. This represents a 9.64% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 21.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered XBiotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 30th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, XBiotech currently has a consensus rating of “Sell”.

About XBiotech

XBiotech, Inc. is a biotechnology company focused on discovering, developing and commercializing therapies based on True Human antibodies. Its research platform is designed to produce fully human antibodies that target specific biological pathways involved in inflammation and other serious diseases. The company’s leading investigational product is bermekimab, an antibody designed to neutralize interleukin-1 alpha, a protein associated with inflammation and disease progression. Bermekimab has been evaluated in clinical studies involving conditions including cancer, inflammatory skin diseases and other disorders.