XBiotech (NASDAQ:XBIT) Share Price Crosses Above 50-Day Moving Average of $7.19

XBiotech Inc. (NASDAQ:XBIT)’s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $7.19 and traded as high as $9.19. XBiotech shares last traded at $8.11, with a volume of 81,922 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on XBiotech in a research report on Thursday, February 15th. They set a “sell” rating for the company.

XBiotech Stock Up 1.6 %

The company has a 50-day simple moving average of $7.23 and a two-hundred day simple moving average of $5.25. The firm has a market cap of $244.83 million, a PE ratio of -9.80 and a beta of 1.45.

XBiotech (NASDAQ:XBIT) last posted its quarterly earnings data on Friday, March 15th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter.

Institutional Trading of XBiotech

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of XBiotech by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 881,511 shares of the biopharmaceutical company’s stock valued at $3,526,000 after buying an additional 9,068 shares during the period. Bridgeway Capital Management LLC raised its stake in shares of XBiotech by 3.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 144,593 shares of the biopharmaceutical company’s stock valued at $578,000 after buying an additional 5,352 shares during the period. Northern Trust Corp raised its stake in shares of XBiotech by 49.8% in the fourth quarter. Northern Trust Corp now owns 79,027 shares of the biopharmaceutical company’s stock valued at $316,000 after buying an additional 26,279 shares during the period. National Bank of Canada FI bought a new stake in shares of XBiotech in the fourth quarter valued at $103,000. Finally, BlackRock Inc. raised its stake in shares of XBiotech by 10.5% in the second quarter. BlackRock Inc. now owns 289,847 shares of the biopharmaceutical company’s stock valued at $1,722,000 after buying an additional 27,651 shares during the period. 55.70% of the stock is currently owned by institutional investors.

About XBiotech

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.