XBiotech (NASDAQ:XBIT) Announces Quarterly Earnings Results

XBiotech (NASDAQ:XBIT) posted its earnings results on Friday. The biopharmaceutical company reported ($0.88) earnings per share for the quarter, FiscalAI reports.

XBiotech Trading Down 1.3%

Shares of XBiotech stock opened at $2.31 on Friday. The firm has a fifty day simple moving average of $2.45 and a 200-day simple moving average of $2.53. The stock has a market capitalization of $70.43 million, a price-to-earnings ratio of -1.54 and a beta of 0.87. XBiotech has a 1-year low of $2.09 and a 1-year high of $3.62.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. RBF Capital LLC acquired a new position in XBiotech during the 2nd quarter worth $594,000. Jane Street Group LLC grew its position in shares of XBiotech by 25.1% in the fourth quarter. Jane Street Group LLC now owns 69,738 shares of the biopharmaceutical company’s stock valued at $167,000 after purchasing an additional 13,971 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of XBiotech by 56.3% in the third quarter. Squarepoint Ops LLC now owns 62,159 shares of the biopharmaceutical company’s stock valued at $165,000 after purchasing an additional 22,383 shares during the last quarter. Bank of America Corp DE increased its stake in shares of XBiotech by 160.3% in the third quarter. Bank of America Corp DE now owns 47,389 shares of the biopharmaceutical company’s stock worth $126,000 after purchasing an additional 29,181 shares during the period. Finally, Citadel Advisors LLC increased its stake in shares of XBiotech by 31.8% in the third quarter. Citadel Advisors LLC now owns 42,816 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 10,333 shares during the period. Institutional investors 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.