XBiotech (NASDAQ:XBIT) Stock Price Crosses Above 50 Day Moving Average of $7.45

Shares of XBiotech Inc. (NASDAQ:XBIT) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $7.45 and traded as high as $8.39. XBiotech shares last traded at $8.21, with a volume of 45,963 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of XBiotech in a research note on Thursday, February 15th. They set a “sell” rating for the company.

XBiotech Stock Performance

The firm has a market cap of $249.99 million, a P/E ratio of -10.01 and a beta of 1.45. The stock’s 50 day simple moving average is $7.45 and its 200 day simple moving average is $5.39.

XBiotech (NASDAQ:XBIT) last announced its quarterly earnings results on Friday, March 15th. The biopharmaceutical company reported ($0.16) EPS for the quarter.

Hedge Funds Weigh In On XBiotech

An institutional investor recently bought a new position in XBiotech stock. National Bank of Canada FI acquired a new position in shares of XBiotech Inc. (NASDAQ:XBIT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 24,347 shares of the biopharmaceutical company’s stock, valued at approximately $103,000. National Bank of Canada FI owned about 0.08% of XBiotech at the end of the most recent reporting period. 55.70% of the stock is owned by institutional investors and hedge funds.

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.