XBiotech (NASDAQ:XBIT) Shares Pass Below 200-Day Moving Average – What’s Next?

Shares of XBiotech Inc. (NASDAQ:XBIT) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.43 and traded as low as $2.35. XBiotech shares last traded at $2.35, with a volume of 14,913 shares.

Analyst Ratings Changes

Separately, Weiss Ratings cut XBiotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

XBiotech Stock Performance

The firm has a fifty day moving average price of $2.43 and a two-hundred day moving average price of $2.43. The stock has a market capitalization of $71.65 million, a P/E ratio of -1.78 and a beta of 0.85.

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

Hedge Funds Weigh In On XBiotech

A number of institutional investors have recently bought and sold shares of the stock. Bridgeway Capital Management LLC raised its holdings in XBiotech by 50.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 89,547 shares of the biopharmaceutical company’s stock worth $214,000 after purchasing an additional 30,000 shares during the period. State Street Corp raised its holdings in 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 purchasing an additional 5,700 shares during the period. Jane Street Group LLC raised its holdings in XBiotech by 25.1% in the 4th quarter. Jane Street Group LLC now owns 69,738 shares of the biopharmaceutical company’s stock worth $167,000 after purchasing an additional 13,971 shares during the period. Squarepoint Ops LLC raised its holdings in XBiotech by 56.3% in the 3rd quarter. Squarepoint Ops LLC now owns 62,159 shares of the biopharmaceutical company’s stock worth $165,000 after purchasing an additional 22,383 shares during the period. Finally, Bank of America Corp DE raised its holdings in XBiotech by 160.3% in the 3rd quarter. Bank of America Corp DE now owns 47,389 shares of the biopharmaceutical company’s stock worth $126,000 after purchasing an additional 29,181 shares during the period. 55.70% of the stock is owned by 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-1?), 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-1? antibody that has completed Phase 3 clinical trials in metastatic colorectal cancer patients.