XBiotech (NASDAQ:XBIT) Announces Earnings Results

XBiotech (NASDAQ:XBIT) released its earnings results on Thursday. The biopharmaceutical company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.25), FiscalAI reports.

XBiotech Price Performance

Shares of XBIT traded down $0.13 during midday trading on Thursday, hitting $2.33. The stock had a trading volume of 41,684 shares, compared to its average volume of 35,843. The firm has a market cap of $71.04 million, a price-to-earnings ratio of -1.77 and a beta of 0.84. The company has a 50 day simple moving average of $2.31 and a two-hundred day simple moving average of $2.38. XBiotech has a twelve month low of $2.09 and a twelve month high of $3.61.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Qube Research & Technologies Ltd acquired a new position in XBiotech during the second quarter worth $96,000. Bridgeway Capital Management LLC increased its stake in 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 last quarter. Bank of America Corp DE increased its stake in XBiotech by 160.3% in the 3rd 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 during the last quarter. Jane Street Group LLC bought a new stake in XBiotech during the 2nd quarter worth about $75,000. Finally, Squarepoint Ops LLC boosted its stake in shares of XBiotech by 56.3% during the 3rd quarter. Squarepoint Ops LLC now owns 62,159 shares of the biopharmaceutical company’s stock worth $165,000 after buying an additional 22,383 shares during the last quarter. 55.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut XBiotech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, XBiotech presently has a consensus rating of “Sell”.

About XBiotech

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.