Shares of XBiotech Inc. (NASDAQ:XBIT) shot up 3.4% during mid-day trading on Tuesday . The stock traded as high as $15.39 and last traded at $15.30, with a volume of 85,550 shares changing hands. The stock had previously closed at $14.79.

Several brokerages have recently issued reports on XBIT. Noble Financial reiterated a “buy” rating and issued a $24.00 target price on shares of XBiotech in a research report on Thursday, May 19th. Zacks Investment Research upgraded shares of XBiotech from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Tuesday, May 24th.

The firm has a 50-day moving average price of $17.18 and a 200-day moving average price of $11.94. The firm’s market cap is $515.01 million.

In other XBiotech news, Director W Thorpe Mckenzie purchased 20,000 shares of XBiotech stock in a transaction that occurred on Thursday, May 26th. The stock was purchased at an average price of $13.96 per share, for a total transaction of $279,200.00. Following the transaction, the director now directly owns 3,898,600 shares in the company, valued at $54,424,456. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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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