XBiotech Inc. (NASDAQ:XBIT) Short Interest Down 23.1% in March

XBiotech Inc. (NASDAQ:XBIT) saw a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 800,100 shares, a decrease of 23.1% from the February 28th total of 1,040,000 shares. Based on an average daily trading volume, of 63,700 shares, the short-interest ratio is presently 12.6 days. Currently, 4.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in XBIT. JPMorgan Chase & Co. lifted its position in XBiotech by 68.2% during the 4th quarter. JPMorgan Chase & Co. now owns 14,624 shares of the biopharmaceutical company’s stock worth $58,000 after buying an additional 5,930 shares in the last quarter. Virtu Financial LLC bought a new stake in XBiotech during the fourth quarter worth about $58,000. Bank of America Corp DE boosted its position in XBiotech by 42.0% during the fourth quarter. Bank of America Corp DE now owns 19,888 shares of the biopharmaceutical company’s stock valued at $79,000 after purchasing an additional 5,887 shares during the last quarter. Jane Street Group LLC bought a new position in XBiotech in the third quarter valued at approximately $86,000. Finally, MetLife Investment Management LLC bought a new position in XBiotech in the third quarter valued at approximately $94,000. Institutional investors own 55.70% of the company’s stock.

XBiotech Stock Performance

NASDAQ:XBIT opened at $3.10 on Monday. The stock has a 50-day simple moving average of $3.33 and a 200 day simple moving average of $5.35. XBiotech has a 52-week low of $2.94 and a 52-week high of $9.96. The company has a market cap of $94.51 million, a PE ratio of -2.87 and a beta of 1.25.

XBiotech (NASDAQ:XBIT) last issued its quarterly earnings results on Tuesday, March 18th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter.

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.