XBiotech (NASDAQ:XBIT) Rating Reiterated by Zacks Investment Research

Zacks Investment Research reaffirmed their sell rating on shares of XBiotech (NASDAQ:XBIT) in a report published on Sunday morning, Zacks.com reports.

According to Zacks, “XBiotech Inc. is a biopharmaceutical company. The Company is engaged in discovering and developing True Human(TM) monoclonal antibodies for treating diseases. XBiotech Inc. is based in AUSTIN, United States. “

A number of other analysts have also weighed in on XBIT. BidaskClub raised shares of XBiotech from a hold rating to a buy rating in a report on Wednesday, August 21st. Piper Jaffray Companies began coverage on shares of XBiotech in a report on Friday, June 14th. They issued an overweight rating and a $13.00 price target for the company. Finally, ValuEngine lowered shares of XBiotech from a buy rating to a hold rating in a research report on Thursday, August 1st.

XBIT stock opened at $9.00 on Friday. The firm has a 50 day moving average of $7.86 and a 200-day moving average of $8.55. The firm has a market capitalization of $369.10 million, a P/E ratio of -15.25 and a beta of 0.41. XBiotech has a 12 month low of $2.40 and a 12 month high of $11.74.

A number of institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. bought a new position in XBiotech in the 2nd quarter worth about $34,000. A.R.T. Advisors LLC purchased a new position in shares of XBiotech during the second quarter worth about $101,000. Citadel Advisors LLC purchased a new position in shares of XBiotech during the second quarter worth about $146,000. Charles Schwab Investment Management Inc. bought a new position in shares of XBiotech in the second quarter worth approximately $309,000. Finally, Strs Ohio bought a new position in shares of XBiotech in the second quarter worth approximately $357,000. Institutional investors and hedge funds own 10.75% of the company’s stock.

About XBiotech

XBiotech Inc, a pre-market biopharmaceutical company, engages in discovering and developing True Human monoclonal antibodies for treating various diseases. The company's lead product is bermekimab, a therapeutic antibody that neutralizes interleukin-1 alpha, which has completed Phase III clinical trial in Europe for the treatment of symptomatic and advanced colorectal cancer.

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