Shares of XBiotech Inc. (NASDAQ:XBIT) dropped 12.8% during mid-day trading on Monday . The stock traded as low as $13.83 and last traded at $13.87, with a volume of 410,618 shares traded. The stock had previously closed at $15.90.

XBIT has been the topic of several analyst reports. Zacks Investment Research raised XBiotech from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Tuesday, April 5th. Noble Financial reaffirmed a “buy” rating and issued a $24.00 price objective on shares of XBiotech in a research note on Thursday, May 19th.

The firm’s market cap is $449.20 million. The firm’s 50 day moving average is $16.97 and its 200-day moving average is $12.12.

In other news, Director W Thorpe Mckenzie purchased 20,000 shares of the company’s stock in a transaction dated Thursday, May 26th. The shares were purchased at an average cost of $13.96 per share, for a total transaction of $279,200.00. Following the purchase, the director now directly owns 3,898,600 shares in the company, valued at approximately $54,424,456. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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 diseases. The Company focuses on bringing its lead product candidate, Xilonix (MABp1), to market. The Company has also developed a True Human monoclonal antibody discovery platform and manufacturing system.

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