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

XBiotech Inc. (NASDAQ:XBIT) shares crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $2.42 and traded as low as $2.30. XBiotech shares last traded at $2.30, with a volume of 14,689 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised XBiotech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 12th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

XBiotech Trading Down 1.3%

The company has a market capitalization of $70.13 million, a price-to-earnings ratio of -1.74 and a beta of 0.85. The firm’s 50 day simple moving average is $2.42 and its 200-day simple moving average is $2.42.

XBiotech (NASDAQ:XBIT) last released its earnings results on Thursday, May 14th. The biopharmaceutical company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.21).

Institutional Investors Weigh In On XBiotech

Institutional investors have recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd acquired a new position in XBiotech during the 2nd quarter worth approximately $96,000. Bridgeway Capital Management LLC lifted its holdings in shares of XBiotech by 50.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 89,547 shares of the biopharmaceutical company’s stock valued at $214,000 after buying an additional 30,000 shares during the period. Bank of America Corp DE boosted its stake in shares of XBiotech by 160.3% in the third quarter. Bank of America Corp DE now owns 47,389 shares of the biopharmaceutical company’s stock valued at $126,000 after buying an additional 29,181 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of XBiotech in the second quarter valued at approximately $75,000. Finally, Renaissance Technologies LLC acquired a new position in XBiotech during the first quarter worth $53,000. Hedge funds and other institutional investors own 55.70% of the company’s stock.

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.