XBiotech (NASDAQ:XBIT) Stock Price Passes Below 200-Day Moving Average – Should You Sell?

XBiotech Inc. (NASDAQ:XBIT)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.53 and traded as low as $2.31. XBiotech shares last traded at $2.31, with a volume of 5,259 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of XBiotech in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

XBiotech Stock Down 1.3%

The stock has a fifty day moving average price of $2.45 and a 200-day moving average price of $2.53. The firm has a market cap of $70.43 million, a price-to-earnings ratio of -2.41 and a beta of 0.87.

XBiotech (NASDAQ:XBIT) last issued its quarterly earnings results on Friday, March 13th. The biopharmaceutical company reported ($0.88) earnings per share for the quarter.

Institutional Trading of XBiotech

Several hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in shares of XBiotech by 27.1% in the second quarter. BNP Paribas Financial Markets now owns 20,729 shares of the biopharmaceutical company’s stock valued at $62,000 after acquiring an additional 4,416 shares in the last quarter. Bank of America Corp DE raised its holdings in XBiotech by 41.5% during the second quarter. Bank of America Corp DE now owns 18,208 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 5,344 shares in the last quarter. State Street Corp raised its holdings in XBiotech by 8.5% during the fourth quarter. State Street Corp now owns 73,006 shares of the biopharmaceutical company’s stock worth $174,000 after purchasing an additional 5,700 shares in the last quarter. XTX Topco Ltd lifted its position in XBiotech by 44.1% in the fourth quarter. XTX Topco Ltd now owns 21,703 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 6,647 shares during the period. Finally, Citadel Advisors LLC boosted its holdings in XBiotech by 31.8% in the 3rd quarter. Citadel Advisors LLC now owns 42,816 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 10,333 shares in the last quarter. Institutional investors and hedge funds own 55.70% of the company’s stock.

XBiotech Company Profile

XBiotech Inc is a clinical-stage biopharmaceutical company developing human antibodies to treat cancer and other inflammatory-driven diseases. The company’s core technology, the True Human™ antibody platform, enables the discovery and development of monoclonal antibodies that mimic the human immune response without the need for genetic humanization. XBiotech’s lead therapeutic candidate targets interleukin-1 alpha (IL-1α), a key mediator of inflammation associated with tumor growth and chronic disease.

The company’s most advanced program, Xilonix® (MABp1), is a first-in-class anti-IL-1α antibody that has completed Phase 3 clinical trials in metastatic colorectal cancer patients.