XBiotech Inc. (NASDAQ:XBIT) Sees Significant Drop in Short Interest

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

XBiotech Stock Up 4.5 %

Shares of NASDAQ XBIT opened at $3.24 on Tuesday. The firm has a 50-day simple moving average of $3.32 and a 200-day simple moving average of $5.32. The stock has a market capitalization of $98.78 million, a price-to-earnings ratio of -3.00 and a beta of 1.25. XBiotech has a 52 week low of $2.94 and a 52 week high of $9.96.

XBiotech (NASDAQ:XBIT) last released its quarterly earnings data on Tuesday, March 18th. The biopharmaceutical company reported ($0.34) EPS for the quarter.

Hedge Funds Weigh In On XBiotech

A number of institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new stake in shares of XBiotech in the 3rd quarter worth $86,000. MetLife Investment Management LLC purchased a new stake in shares of XBiotech in the third quarter valued at about $94,000. JPMorgan Chase & Co. increased its position in XBiotech by 68.2% during the fourth quarter. JPMorgan Chase & Co. now owns 14,624 shares of the biopharmaceutical company’s stock worth $58,000 after purchasing an additional 5,930 shares during the last quarter. Virtu Financial LLC purchased a new position in XBiotech during the fourth quarter worth about $58,000. Finally, Bank of America Corp DE boosted its holdings in XBiotech by 42.0% in the 4th 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. Hedge funds and other institutional investors own 55.70% of the company’s stock.

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.