XBiotech Inc. (NASDAQ:XBIT) gapped up before the market opened on Friday . The stock had previously closed at $15.30, but opened at $15.32. XBiotech shares last traded at $15.69, with a volume of 38,534 shares changing hands.

XBIT has been the subject of a number of recent research reports. Noble Financial reaffirmed a “buy” rating and set a $30.00 price objective (up previously from $24.00) on shares of XBiotech in a research report on Tuesday, June 28th. Zacks Investment Research raised shares of XBiotech from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Tuesday, May 24th.

The stock’s market cap is $498.84 million. The stock’s 50 day moving average price is $16.20 and its 200-day moving average price is $12.67.

In other XBiotech news, Director W Thorpe Mckenzie bought 20,000 shares of XBiotech stock in a transaction dated Thursday, May 26th. The shares were bought at an average price 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 transaction was disclosed in a document filed with the SEC, which is available at 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 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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