XBiotech (NASDAQ:XBIT) Shares Cross Above 50 Day Moving Average – Here’s Why

XBiotech Inc. (NASDAQ:XBIT) shares passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $2.45 and traded as high as $2.68. XBiotech shares last traded at $2.66, with a volume of 60,661 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of XBiotech in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, XBiotech presently has a consensus rating of “Sell”.

XBiotech Stock Performance

The firm’s 50-day simple moving average is $2.46 and its two-hundred day simple moving average is $2.68.

XBiotech (NASDAQ:XBIT) last posted its quarterly earnings data on Wednesday, November 12th. The biopharmaceutical company reported ($0.20) EPS for the quarter.

Hedge Funds Weigh In On XBiotech

A number of institutional investors have recently bought and sold shares of the business. RBF Capital LLC acquired a new position in XBiotech during the second quarter valued at $594,000. Y Intercept Hong Kong Ltd acquired a new stake in XBiotech during the 2nd quarter worth about $142,000. Citadel Advisors LLC raised its stake in shares of XBiotech by 31.8% during the 3rd quarter. Citadel Advisors LLC now owns 42,816 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 10,333 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of XBiotech by 160.3% in the 3rd quarter. Bank of America Corp DE now owns 47,389 shares of the biopharmaceutical company’s stock valued at $126,000 after buying an additional 29,181 shares during the period. Finally, Squarepoint Ops LLC lifted its holdings in shares of XBiotech by 56.3% in the 3rd quarter. Squarepoint Ops LLC now owns 62,159 shares of the biopharmaceutical company’s stock valued at $165,000 after buying an additional 22,383 shares during the period. 55.70% of the stock is owned by hedge funds and other institutional investors.

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.