XBiotech (NASDAQ:XBIT) Stock Price Passes Above 50-Day Moving Average of $7.19

XBiotech Inc. (NASDAQ:XBIT)’s share price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $7.19 and traded as high as $9.19. XBiotech shares last traded at $8.11, with a volume of 81,922 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on XBiotech in a report on Thursday, February 15th. They issued a “sell” rating on the stock.

XBiotech Stock Down 9.5 %

The stock has a market cap of $246.95 million, a PE ratio of -9.89 and a beta of 1.45. The firm has a fifty day moving average of $7.19 and a 200 day moving average of $5.23.

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

Hedge Funds Weigh In On XBiotech

Several large investors have recently bought and sold shares of XBIT. Millennium Management LLC boosted its stake in XBiotech by 1,602.0% in the second quarter. Millennium Management LLC now owns 284,679 shares of the biopharmaceutical company’s stock valued at $1,603,000 after acquiring an additional 267,953 shares in the last quarter. Renaissance Technologies LLC acquired a new position in XBiotech in the second quarter valued at $443,000. Credit Suisse AG boosted its stake in XBiotech by 45.1% in the second quarter. Credit Suisse AG now owns 226,147 shares of the biopharmaceutical company’s stock valued at $1,273,000 after acquiring an additional 70,294 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in XBiotech by 50.8% in the first quarter. Dimensional Fund Advisors LP now owns 153,918 shares of the biopharmaceutical company’s stock valued at $1,330,000 after acquiring an additional 51,872 shares in the last quarter. Finally, Citadel Advisors LLC boosted its stake in XBiotech by 96.0% in the second quarter. Citadel Advisors LLC now owns 80,884 shares of the biopharmaceutical company’s stock valued at $455,000 after acquiring an additional 39,615 shares in the last quarter. Institutional investors and hedge funds 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.