XBiotech (NASDAQ:XBIT) Releases Quarterly Earnings Results, Misses Estimates By $0.21 EPS

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

XBiotech Trading Up 0.8%

Shares of NASDAQ:XBIT traded up $0.02 during trading on Thursday, reaching $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 firm has a market cap of $76.83 million, a PE ratio of -1.68 and a beta of 0.88. The stock has a 50-day moving average price of $2.40 and a 200-day moving average price of $2.43.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of 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, the stock has an average rating of “Sell”.

Institutional Investors Weigh In On XBiotech

A number of institutional investors have recently made changes to their positions in XBIT. XTX Topco Ltd boosted its position in shares of XBiotech by 44.1% in the fourth quarter. XTX Topco Ltd now owns 21,703 shares of the biopharmaceutical company’s stock valued at $52,000 after acquiring an additional 6,647 shares during the period. Bridgeway Capital Management LLC boosted its position 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 valued at $214,000 after acquiring an additional 30,000 shares during the period. Persistent Asset Partners Ltd bought a new stake in shares of XBiotech in the fourth quarter valued at about $32,000. State Street Corp boosted its position in shares of XBiotech by 8.5% in 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 period. Finally, Jane Street Group LLC boosted its position in shares of XBiotech by 25.1% in 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 period. Institutional investors own 55.70% of the company’s stock.

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.