XBiotech (NASDAQ:XBIT) Sees Unusually-High Trading Volume

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Shares of XBiotech Inc (NASDAQ:XBIT) saw an uptick in trading volume on Monday . 4,818,987 shares changed hands during mid-day trading, an increase of 2,508% from the previous session’s volume of 184,755 shares.The stock last traded at $19.50 and had previously closed at $11.12.

XBIT has been the subject of a number of research reports. BidaskClub cut XBiotech from a “buy” rating to a “hold” rating in a research report on Wednesday, December 4th. Zacks Investment Research raised XBiotech from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Thursday, November 21st. ValuEngine downgraded XBiotech from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $16.00 price target (up from $13.00) on shares of XBiotech in a research note on Wednesday, November 13th.

The firm’s 50-day moving average is $11.50 and its 200-day moving average is $8.99. The company has a market capitalization of $456.88 million, a P/E ratio of -33.05 and a beta of 0.46.

XBiotech (NASDAQ:XBIT) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.15) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.15). Sell-side analysts expect that XBiotech Inc will post -0.62 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. purchased a new stake in shares of XBiotech in the 2nd quarter worth $34,000. A.R.T. Advisors LLC bought a new position in XBiotech in the 2nd quarter worth $101,000. Squarepoint Ops LLC purchased a new position in XBiotech during the third quarter valued at $135,000. Citadel Advisors LLC purchased a new position in XBiotech during the second quarter valued at $146,000. Finally, Barclays PLC grew its holdings in XBiotech by 12.2% during the third quarter. Barclays PLC now owns 15,905 shares of the biopharmaceutical company’s stock valued at $166,000 after purchasing an additional 1,728 shares during the period. 11.96% of the stock is owned by hedge funds and other institutional investors.

XBiotech Company Profile (NASDAQ:XBIT)

XBiotech Inc, a pre-market biopharmaceutical company, engages in discovering and developing True Human monoclonal antibodies for treating various diseases. The company's lead product is bermekimab, a therapeutic antibody that neutralizes interleukin-1 alpha, which has completed Phase III clinical trial in Europe for the treatment of symptomatic and advanced colorectal cancer.

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