XBiotech (NASDAQ:XBIT) Stock Crosses Above 50-Day Moving Average – What’s Next?

Shares of XBiotech Inc. (NASDAQ:XBIT) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $2.49 and traded as high as $2.56. XBiotech shares last traded at $2.51, with a volume of 9,081 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of XBiotech in a research report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, XBiotech currently has a consensus rating of “Sell”.

XBiotech Stock Down 1.2%

The firm has a 50 day moving average price of $2.49 and a 200 day moving average price of $2.67. The stock has a market capitalization of $76.53 million, a PE ratio of -2.61 and a beta of 0.81.

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

Hedge Funds Weigh In On XBiotech

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its stake in XBiotech by 41.5% in the second quarter. Bank of America Corp DE now owns 18,208 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing 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 $61,000. BNP Paribas Financial Markets increased its stake in XBiotech by 27.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 20,729 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 4,416 shares during the last quarter. Jane Street Group LLC bought a new position in shares of XBiotech in the second quarter worth approximately $75,000. Finally, Qube Research & Technologies Ltd purchased a new position in XBiotech in the 2nd quarter worth approximately $96,000. 55.70% of the stock is owned by hedge funds and other institutional investors.

XBiotech Company Profile

XBiotech Inc is a clinical-stage biopharmaceutical company developing human antibodies to treat cancer and other inflammatory-driven diseases. The company’s core technology, the True Human™ antibody platform, enables the discovery and development of monoclonal antibodies that mimic the human immune response without the need for genetic humanization. XBiotech’s lead therapeutic candidate targets interleukin-1 alpha (IL-1α), a key mediator of inflammation associated with tumor growth and chronic disease.

The company’s most advanced program, Xilonix® (MABp1), is a first-in-class anti-IL-1α antibody that has completed Phase 3 clinical trials in metastatic colorectal cancer patients.