XBiotech Inc. (NASDAQ:XBIT) shares shot up 5.6% during trading on Tuesday . The company traded as high as $15.34 and last traded at $15.27, with a volume of 208,024 shares changing hands. The stock had previously closed at $14.46.

A number of brokerages have recently commented on XBIT. Zacks Investment Research cut XBiotech from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Noble Financial reiterated a “buy” rating and issued a $30.00 price target (up from $24.00) on shares of XBiotech in a research note on Tuesday, June 28th.

The company’s 50-day moving average price is $15.99 and its 200 day moving average price is $12.84. The stock’s market capitalization is $491.40 million.

In related news, Director W Thorpe Mckenzie purchased 20,000 shares of the firm’s stock in a transaction dated Thursday, May 26th. The stock was bought at an average price 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 filing with the Securities & Exchange Commission, which is available through the SEC website.

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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