XBiotech (NASDAQ:XBIT) Earns Sell (E+) Rating from Weiss Ratings

XBiotech (NASDAQ:XBIT)‘s stock had its “sell (e+)” rating restated by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

XBiotech Stock Performance

XBiotech stock opened at $2.60 on Wednesday. The company has a 50-day simple moving average of $2.92 and a 200-day simple moving average of $2.93. The firm has a market capitalization of $79.27 million, a P/E ratio of -2.83 and a beta of 0.85. XBiotech has a one year low of $2.50 and a one year high of $8.32.

XBiotech (NASDAQ:XBIT) last released its quarterly earnings results on Wednesday, August 13th. The biopharmaceutical company reported ($0.06) EPS for the quarter.

Hedge Funds Weigh In On XBiotech

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC bought a new position in XBiotech in the 1st quarter valued at about $52,000. Bank of America Corp DE grew its position in 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 buying an additional 5,344 shares in the last quarter. XTX Topco Ltd bought a new position in XBiotech in the 2nd quarter valued at about $61,000. BNP Paribas Financial Markets grew its position in XBiotech by 27.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 20,729 shares of the biopharmaceutical company’s stock valued at $62,000 after buying an additional 4,416 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in XBiotech in the 2nd quarter valued at about $75,000. Institutional investors own 55.70% of the company’s stock.

About XBiotech

XBiotech Inc, a biopharmaceutical company, discovers, develops, and commercializes True Human monoclonal antibodies for treating various diseases. The company focuses on developing a pipeline of product candidates targeting both inflammatory and infectious diseases. It is also developing interleukin-1 alpha therapies to treat variety of medical conditions, such as cancer, stroke, heart attack, or arthritis; and mediates tissue breakdown, angiogenesis, the formation of blood clots, malaise, muscle wasting, and inflammation.