XBiotech Inc. (NASDAQ:XBIT) Sees Significant Decrease in Short Interest

XBiotech Inc. (NASDAQ:XBITGet Rating) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 473,600 shares, a drop of 19.2% from the March 31st total of 585,900 shares. Approximately 3.1% of the company’s stock are short sold. Based on an average daily trading volume, of 61,800 shares, the short-interest ratio is currently 7.7 days.

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of XBiotech by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 306,118 shares of the biopharmaceutical company’s stock valued at $3,964,000 after purchasing an additional 8,196 shares in the last quarter. Barclays PLC raised its holdings in shares of XBiotech by 212.0% during the 3rd quarter. Barclays PLC now owns 6,264 shares of the biopharmaceutical company’s stock valued at $80,000 after purchasing an additional 4,256 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of XBiotech by 105.8% during the 3rd quarter. Goldman Sachs Group Inc. now owns 56,757 shares of the biopharmaceutical company’s stock valued at $735,000 after purchasing an additional 29,183 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of XBiotech by 14.0% during the 3rd quarter. California State Teachers Retirement System now owns 23,789 shares of the biopharmaceutical company’s stock valued at $308,000 after purchasing an additional 2,914 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of XBiotech by 2.6% during the 3rd quarter. Swiss National Bank now owns 43,000 shares of the biopharmaceutical company’s stock valued at $557,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 15.48% of the company’s stock.

A number of equities research analysts have issued reports on XBIT shares. TheStreet lowered shares of XBiotech from a “c-” rating to a “d+” rating in a research note on Tuesday, March 1st. StockNews.com assumed coverage on shares of XBiotech in a research note on Thursday, March 31st. They set a “hold” rating for the company.

XBiotech stock opened at $7.72 on Tuesday. The company has a market capitalization of $234.99 million, a P/E ratio of -17.95 and a beta of 1.45. The firm’s fifty day simple moving average is $8.85 and its 200-day simple moving average is $10.92. XBiotech has a 1-year low of $7.17 and a 1-year high of $18.46.

About XBiotech (Get Rating)

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, and True Human COVID-19 therapy for treating the COVID-19 mutant virus.

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