XBiotech (NASDAQ:XBIT) Announces Earnings Results, Misses Estimates By $0.17 EPS

XBiotech (NASDAQ:XBIT) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17), FiscalAI reports.

XBiotech Stock Performance

Shares of XBiotech stock opened at $1.96 on Friday. XBiotech has a 1 year low of $1.80 and a 1 year high of $2.90. The firm’s 50-day simple moving average is $2.09 and its 200-day simple moving average is $2.29.

Insiders Place Their Bets

In other news, Director John Simard acquired 368,524 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was purchased at an average cost of $1.93 per share, with a total value of $711,251.32. Following the completion of the acquisition, the director directly owned 4,191,690 shares in the company, valued at $8,089,961.70. This represents a 9.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 21.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Weiss Ratings lowered XBiotech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 30th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

About XBiotech

XBiotech, Inc. is a biotechnology company focused on discovering, developing and commercializing therapies based on True Human antibodies. Its research platform is designed to produce fully human antibodies that target specific biological pathways involved in inflammation and other serious diseases. The company’s leading investigational product is bermekimab, an antibody designed to neutralize interleukin-1 alpha, a protein associated with inflammation and disease progression. Bermekimab has been evaluated in clinical studies involving conditions including cancer, inflammatory skin diseases and other disorders.