XBiotech (NASDAQ:XBIT) Posts Earnings Results

XBiotech (NASDAQ:XBIT) posted its earnings results on Friday. The biopharmaceutical company reported ($0.88) earnings per share for the quarter, FiscalAI reports.

XBiotech Stock Performance

NASDAQ:XBIT opened at $2.31 on Friday. The stock has a market capitalization of $70.43 million, a PE ratio of -2.41 and a beta of 0.87. XBiotech has a fifty-two week low of $2.09 and a fifty-two week high of $3.62. The company has a fifty day moving average of $2.45 and a two-hundred day moving average of $2.53.

Institutional Trading of XBiotech

Institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd lifted its stake in XBiotech by 44.1% in the 4th quarter. XTX Topco Ltd now owns 21,703 shares of the biopharmaceutical company’s stock valued at $52,000 after buying an additional 6,647 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in XBiotech by 50.4% during the 4th 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 in the last quarter. Persistent Asset Partners Ltd purchased a new stake in XBiotech during the 4th quarter worth approximately $32,000. State Street Corp raised its holdings in shares of XBiotech by 8.5% during the fourth quarter. State Street Corp now owns 73,006 shares of the biopharmaceutical company’s stock valued at $174,000 after acquiring an additional 5,700 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of XBiotech by 25.1% during the fourth quarter. Jane Street Group LLC now owns 69,738 shares of the biopharmaceutical company’s stock valued at $167,000 after acquiring an additional 13,971 shares during the last quarter. Hedge funds and other institutional investors own 55.70% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of XBiotech in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

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.