XBiotech (NASDAQ:XBIT) Stock Passes Above 50 Day Moving Average – Should You Sell?

XBiotech Inc. (NASDAQ:XBIT)’s share price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $2.41 and traded as high as $2.48. XBiotech shares last traded at $2.48, with a volume of 23,524 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut XBiotech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

XBiotech Trading Up 3.8%

The stock has a market capitalization of $75.62 million, a price-to-earnings ratio of -1.88 and a beta of 0.88. The firm has a 50-day moving average of $2.41 and a 200 day moving average of $2.43.

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

Institutional Trading of XBiotech

Large investors have recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd acquired a new stake in XBiotech in the 2nd quarter valued at approximately $96,000. Citadel Advisors LLC increased its position in XBiotech by 31.8% in the 3rd quarter. Citadel Advisors LLC now owns 42,816 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 10,333 shares during the period. Bank of America Corp DE increased its position 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 valued at $126,000 after acquiring an additional 29,181 shares during the period. Squarepoint Ops LLC increased its position in XBiotech by 56.3% in the 3rd quarter. Squarepoint Ops LLC now owns 62,159 shares of the biopharmaceutical company’s stock valued at $165,000 after acquiring an additional 22,383 shares during the period. Finally, Jane Street Group LLC boosted its stake in XBiotech by 25.1% during the 4th quarter. Jane Street Group LLC now owns 69,738 shares of the biopharmaceutical company’s stock valued at $167,000 after purchasing an additional 13,971 shares in the last quarter. 55.70% of the stock is currently owned by institutional investors and hedge funds.

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.