XBiotech (NASDAQ:XBIT) Posts Quarterly Earnings Results

XBiotech (NASDAQ:XBIT) posted its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.25), FiscalAI reports.

XBiotech Price Performance

Shares of XBIT remained flat at $2.33 during midday trading on Friday. The stock had a trading volume of 39,593 shares, compared to its average volume of 35,866. The firm has a market capitalization of $71.04 million, a P/E ratio of -1.77 and a beta of 0.84. The business has a 50-day moving average price of $2.31 and a 200-day moving average price of $2.37. XBiotech has a 1 year low of $2.09 and a 1 year high of $3.61.

Institutional Investors Weigh In On XBiotech

Institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its stake 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 stake in shares of XBiotech by 41.5% in the 2nd quarter. Bank of America Corp DE now owns 18,208 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 5,344 shares during the last quarter. State Street Corp boosted its holdings in XBiotech by 8.5% during the 4th 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. XTX Topco Ltd boosted its holdings in XBiotech by 44.1% during the 4th 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. Finally, Citadel Advisors LLC grew its position in XBiotech by 31.8% during the 3rd quarter. Citadel Advisors LLC now owns 42,816 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 10,333 shares during the last quarter. Hedge funds and other institutional investors own 55.70% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut XBiotech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

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.