XBiotech (NASDAQ:XBIT) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

XBiotech Inc. (NASDAQ:XBIT) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.36 and traded as low as $2.19. XBiotech shares last traded at $2.19, with a volume of 109,028 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of XBiotech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

XBiotech Stock Performance

The company has a market cap of $67.08 million, a P/E ratio of -1.49 and a beta of 0.85. The stock has a 50-day moving average of $2.29 and a two-hundred day moving average of $2.35.

XBiotech (NASDAQ:XBIT) last issued its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.25).

Institutional Trading of XBiotech

Several hedge funds have recently added to or reduced their stakes in XBIT. XTX Topco Ltd increased its holdings 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 worth $52,000 after buying an additional 6,647 shares during the period. Persistent Asset Partners Ltd purchased a new stake in XBiotech during the 4th quarter valued at about $32,000. BNP Paribas Financial Markets grew its position in XBiotech by 27.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 20,729 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 4,416 shares during the last quarter. Bank of America Corp DE grew its position in XBiotech by 41.5% during the 2nd quarter. Bank of America Corp DE now owns 18,208 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 5,344 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in XBiotech in the 2nd quarter worth approximately $75,000. 55.70% of the stock is owned by institutional investors.

About XBiotech

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.