XBiotech Inc. (XBIT) Shares Down 5.4%
Shares of XBiotech Inc. (NASDAQ:XBIT) fell 5.4% during mid-day trading on Tuesday . The company traded as low as $13.50 and last traded at $13.55, with a volume of 81,414 shares trading hands. The stock had previously closed at $14.32.
A number of brokerages have recently issued reports on XBIT. Zacks Investment Research downgraded shares of XBiotech from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 20th. Noble Financial reaffirmed a “buy” rating and set a $30.00 price target (up previously from $24.00) on shares of XBiotech in a report on Tuesday, June 28th.
The firm’s market cap is $437.05 million. The stock has a 50-day moving average price of $16.54 and a 200-day moving average price of $12.35.
In other XBiotech news, Director W Thorpe Mckenzie acquired 20,000 shares of the stock in a transaction that occurred on Thursday, May 26th. The stock was bought at an average cost of $13.96 per share, with a total value of $279,200.00. Following the completion of the purchase, the director now directly owns 3,898,600 shares in the company, valued at $54,424,456. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available 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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