XBiotech Inc. (NASDAQ:XBIT)’s share price fell 8.6% during trading on Tuesday . The stock traded as low as $17.08 and last traded at $17.69, with a volume of 1,095,517 shares changing hands. The stock had previously closed at $19.35.

Several research firms have commented on XBIT. Noble Financial reaffirmed a “buy” rating and issued a $30.00 price target (up previously from $24.00) on shares of XBiotech in a report on Tuesday, June 28th. Zacks Investment Research raised XBiotech from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Tuesday, May 24th.

The company’s 50-day moving average is $16.87 and its 200-day moving average is $11.69. The stock’s market capitalization is $590.06 million.

In related news, Director W Thorpe Mckenzie acquired 20,000 shares of the firm’s stock in a transaction dated Thursday, May 26th. The stock was bought at an average price of $13.96 per share, for a total transaction of $279,200.00. Following the acquisition, the director now directly owns 3,898,600 shares of the company’s stock, valued at $54,424,456. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

XBiotech Inc is a clinical-stage biopharmaceutical company. The Company is engaged in discovering and developing True Human monoclonal antibodies for treating a range of different diseases. The Company primarily focuses on its lead product candidate, Xilonix (MABp1), which is derived from a natural human immune response.

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