XBiotech (NASDAQ:XBIT) Stock Price Crosses Above 50 Day Moving Average – Should You Sell?

XBiotech Inc. (NASDAQ:XBIT)’s share price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $2.30 and traded as high as $2.32. XBiotech shares last traded at $2.30, with a volume of 52,245 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded XBiotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, XBiotech has a consensus rating of “Sell”.

XBiotech Trading Down 0.4%

The firm has a market cap of $70.13 million, a price-to-earnings ratio of -1.55 and a beta of 0.84. The company has a fifty day moving average price of $2.30 and a 200-day moving average price of $2.36.

XBiotech (NASDAQ:XBIT) last announced its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.25).

Hedge Funds Weigh In On XBiotech

Several large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its holdings in XBiotech by 27.1% in the second quarter. BNP Paribas Financial Markets now owns 20,729 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 4,416 shares during the period. Bank of America Corp DE raised its stake in shares of XBiotech by 41.5% during the 2nd quarter. Bank of America Corp DE now owns 18,208 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 5,344 shares during the period. State Street Corp lifted its position in shares of XBiotech by 8.5% during the 4th quarter. State Street Corp now owns 73,006 shares of the biopharmaceutical company’s stock valued at $174,000 after buying an additional 5,700 shares in the last quarter. XTX Topco Ltd lifted its position in shares of XBiotech by 44.1% during the 4th quarter. XTX Topco Ltd now owns 21,703 shares of the biopharmaceutical company’s stock valued at $52,000 after buying an additional 6,647 shares in the last quarter. Finally, Citadel Advisors LLC grew its stake in XBiotech by 31.8% in the 3rd quarter. Citadel Advisors LLC now owns 42,816 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 10,333 shares during the period. 55.70% of the stock is currently owned by institutional investors and hedge funds.

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.