XBiotech (NASDAQ:XBIT) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

XBiotech Inc. (NASDAQ:XBIT)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.40 and traded as low as $2.24. XBiotech shares last traded at $2.25, with a volume of 35,564 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded XBiotech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

XBiotech Stock Down 0.4%

The firm’s fifty day moving average price is $2.33 and its 200 day moving average price is $2.39. The stock has a market cap of $67.99 million, a PE ratio of -1.69 and a beta of 0.86.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in XBIT. BNP Paribas Financial Markets increased its position in XBiotech by 27.1% in the second quarter. BNP Paribas Financial Markets now owns 20,729 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 4,416 shares during the last quarter. Bank of America Corp DE lifted its position in XBiotech by 41.5% during the second quarter. Bank of America Corp DE now owns 18,208 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 5,344 shares during the last quarter. State Street Corp grew its stake in shares of XBiotech by 8.5% in the 4th quarter. State Street Corp now owns 73,006 shares of the biopharmaceutical company’s stock worth $174,000 after buying an additional 5,700 shares in the last quarter. XTX Topco Ltd grew its stake in shares of XBiotech by 44.1% in the 4th quarter. XTX Topco Ltd now owns 21,703 shares of the biopharmaceutical company’s stock worth $52,000 after buying an additional 6,647 shares in the last quarter. Finally, Citadel Advisors LLC increased its holdings in shares of XBiotech by 31.8% in the 3rd quarter. Citadel Advisors LLC now owns 42,816 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 10,333 shares during the last quarter. Hedge funds and other 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.