XBiotech (NASDAQ:XBIT) Releases Quarterly Earnings Results

XBiotech (NASDAQ:XBIT) posted its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, Zacks reports.

XBiotech Stock Performance

Shares of XBIT traded down $0.10 during mid-day trading on Tuesday, reaching $3.42. 30,626 shares of the company were exchanged, compared to its average volume of 79,651. The business has a 50 day simple moving average of $3.43 and a two-hundred day simple moving average of $5.53. The stock has a market capitalization of $104.34 million, a PE ratio of -3.17 and a beta of 1.25. XBiotech has a 52 week low of $2.94 and a 52 week high of $9.96.

Institutional Trading of XBiotech

A hedge fund recently raised its stake in XBiotech stock. Bank of America Corp DE lifted its position in shares of XBiotech Inc. (NASDAQ:XBIT) by 42.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,888 shares of the biopharmaceutical company’s stock after buying an additional 5,887 shares during the quarter. Bank of America Corp DE owned about 0.07% of XBiotech worth $79,000 at the end of the most recent reporting period. 55.70% of the stock is owned by hedge funds and other institutional investors.

XBiotech Company Profile

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.