XBiotech Inc. (XBIT) Shares Down 12.8%
XBiotech Inc. (NASDAQ:XBIT) shares fell 12.8% during trading on Monday . The company traded as low as $13.83 and last traded at $13.87, with a volume of 410,618 shares changing hands. The stock had previously closed at $15.90.
A number of brokerages recently commented on XBIT. Noble Financial reiterated a “buy” rating and issued a $30.00 price target (up previously from $24.00) on shares of XBiotech in a research note on Tuesday, June 28th. Zacks Investment Research lowered shares of XBiotech from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 20th.
The firm’s market cap is $449.67 million. The stock has a 50-day moving average price of $17.14 and a 200 day moving average price of $12.01.
In related 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 price of $13.96 per share, with a total value of $279,200.00. Following the acquisition, the director now directly owns 3,898,600 shares in the company, valued at approximately $54,424,456. The transaction was disclosed in a filing with the SEC, 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.