XBiotech (NASDAQ:XBIT) Downgraded by BidaskClub to “Hold”

BidaskClub lowered shares of XBiotech (NASDAQ:XBIT) from a buy rating to a hold rating in a report published on Wednesday, BidAskClub reports.

XBIT has been the topic of a number of other research reports. Piper Jaffray Companies reaffirmed an overweight rating and issued a $16.00 price target (up previously from $13.00) on shares of XBiotech in a report on Wednesday, November 13th. ValuEngine downgraded XBiotech from a hold rating to a sell rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded XBiotech from a hold rating to a buy rating and set a $14.00 target price on the stock in a research note on Thursday, November 21st.

NASDAQ XBIT traded up $0.01 during trading hours on Wednesday, reaching $11.34. 19,847 shares of the company were exchanged, compared to its average volume of 164,464. The stock has a market capitalization of $465.52 million, a P/E ratio of -19.22 and a beta of 0.46. XBiotech has a 1 year low of $4.10 and a 1 year high of $15.32. The business’s 50 day simple moving average is $11.13 and its 200-day simple moving average is $8.89.

XBiotech (NASDAQ:XBIT) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.15). As a group, equities analysts predict that XBiotech will post -0.62 EPS for the current year.

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new stake in shares of XBiotech in the second quarter valued at approximately $34,000. Squarepoint Ops LLC bought a new stake in XBiotech during the 3rd quarter valued at $135,000. A.R.T. Advisors LLC bought a new stake in XBiotech during the 2nd quarter valued at $101,000. Barclays PLC raised its holdings in XBiotech by 12.2% during the 3rd quarter. Barclays PLC now owns 15,905 shares of the biopharmaceutical company’s stock valued at $166,000 after acquiring an additional 1,728 shares during the period. Finally, Millennium Management LLC lifted its position in shares of XBiotech by 25.7% during the third quarter. Millennium Management LLC now owns 16,662 shares of the biopharmaceutical company’s stock worth $174,000 after acquiring an additional 3,411 shares in the last quarter. Institutional investors and hedge funds own 11.96% of the company’s stock.

About XBiotech

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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