XBiotech Inc. (NASDAQ:XBIT) was down 13.7% during mid-day trading on Wednesday . The stock traded as low as $14.00 and last traded at $14.50, with a volume of 1,234,273 shares. The stock had previously closed at $16.80.

Several equities research analysts recently issued reports on XBIT shares. Zacks Investment Research downgraded XBiotech from a “buy” rating to a “hold” rating in a research note on Wednesday, April 6th. Noble Financial reissued a “buy” rating and issued a $24.00 price objective on shares of XBiotech in a research note on Thursday, May 19th.

The stock’s market capitalization is $469.08 million. The firm has a 50 day moving average price of $16.63 and a 200-day moving average price of $11.56.

In other news, Director W Thorpe Mckenzie bought 20,000 shares of the stock in a transaction dated 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 purchase, the director now owns 3,898,600 shares of the company’s stock, valued at $54,424,456. The purchase was disclosed in a document filed with the SEC, which is accessible 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.