XBiotech (NASDAQ:XBIT) Share Price Crosses Above Fifty Day Moving Average – Should You Sell?

XBiotech Inc. (NASDAQ:XBIT) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $2.47 and traded as high as $2.68. XBiotech shares last traded at $2.48, with a volume of 87,170 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of XBiotech in a research report on Monday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, XBiotech has a consensus rating of “Sell”.

XBiotech Trading Down 1.2%

The firm’s 50-day moving average price is $2.47 and its 200 day moving average price is $2.77. The company has a market capitalization of $75.62 million, a price-to-earnings ratio of -2.58 and a beta of 0.78.

XBiotech (NASDAQ:XBIT) last announced its quarterly earnings data on Wednesday, November 12th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter.

Institutional Trading of XBiotech

Several institutional investors and hedge funds have recently modified their holdings of XBIT. Hsbc Holdings PLC bought a new position in XBiotech in the first quarter valued at about $52,000. Bank of America Corp DE lifted its holdings in shares of XBiotech by 41.5% in the second quarter. Bank of America Corp DE now owns 18,208 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 5,344 shares during the last quarter. XTX Topco Ltd bought a new position in shares of XBiotech in the second quarter worth about $61,000. BNP Paribas Financial Markets boosted its stake in shares of XBiotech by 27.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 20,729 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 4,416 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of XBiotech during the 2nd quarter valued at approximately $75,000. 55.70% of the stock is currently owned by institutional investors.

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.