XBiotech (NASDAQ:XBIT) Stock Price Crosses Above 50 Day Moving Average of $7.45

Shares of XBiotech Inc. (NASDAQ:XBIT) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $7.45 and traded as high as $8.39. XBiotech shares last traded at $8.21, with a volume of 45,963 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on XBiotech in a research note on Thursday, February 15th. They issued a “sell” rating for the company.

XBiotech Price Performance

The business has a 50 day moving average of $7.45 and a 200 day moving average of $5.39. The company has a market cap of $249.99 million, a PE ratio of -10.01 and a beta of 1.45.

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

Hedge Funds Weigh In On XBiotech

An institutional investor recently bought a new position in XBiotech stock. National Bank of Canada FI acquired a new position in XBiotech Inc. (NASDAQ:XBIT) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 24,347 shares of the biopharmaceutical company’s stock, valued at approximately $103,000. National Bank of Canada FI owned approximately 0.08% of XBiotech at the end of the most recent quarter. 55.70% of the stock is owned by institutional investors and hedge funds.

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.