XBiotech (NASDAQ:XBIT) Stock Rating Reaffirmed by Zacks Investment Research

Zacks Investment Research reiterated their sell rating on shares of XBiotech (NASDAQ:XBIT) in a research note published on Saturday, Zacks.com reports.

According to Zacks, “XBiotech Inc. is a biopharmaceutical company. The Company is engaged in discovering and developing True Human(TM) monoclonal antibodies for treating diseases. XBiotech Inc. is based in AUSTIN, United States. “

XBIT has been the topic of a number of other reports. ValuEngine lowered shares of XBiotech from a hold rating to a sell rating in a research note on Wednesday, October 2nd. BidaskClub downgraded shares of XBiotech from a strong-buy rating to a buy rating in a report on Friday, October 4th.

NASDAQ XBIT opened at $9.30 on Friday. The firm has a market cap of $412.15 million, a PE ratio of -15.76 and a beta of 0.44. XBiotech has a one year low of $3.30 and a one year high of $11.74. The firm’s fifty day moving average is $9.30 and its two-hundred day moving average is $8.44.

XBiotech (NASDAQ:XBIT) last posted its quarterly earnings data on Friday, August 9th. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). Research analysts anticipate that XBiotech will post -0.62 EPS for the current year.

Large investors have recently modified their holdings of the company. Sofinnova Investments Inc. boosted its holdings in shares of XBiotech by 26.9% in the second quarter. Sofinnova Investments Inc. now owns 331,811 shares of the biopharmaceutical company’s stock valued at $2,515,000 after acquiring an additional 70,420 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of XBiotech by 72.5% in the second quarter. Northern Trust Corp now owns 75,528 shares of the biopharmaceutical company’s stock valued at $572,000 after acquiring an additional 31,752 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of XBiotech in the second quarter valued at about $146,000. Strs Ohio purchased a new stake in shares of XBiotech in the second quarter valued at about $357,000. Finally, BlackRock Inc. boosted its holdings in shares of XBiotech by 1,037.4% in the second quarter. BlackRock Inc. now owns 1,193,914 shares of the biopharmaceutical company’s stock valued at $9,049,000 after acquiring an additional 1,088,946 shares in the last quarter. 10.75% of the stock is currently owned by institutional investors and hedge funds.

XBiotech Company Profile

XBiotech Inc, a pre-market biopharmaceutical company, engages in discovering and developing True Human monoclonal antibodies for treating various diseases. The company's lead product is bermekimab, a therapeutic antibody that neutralizes interleukin-1 alpha, which has completed Phase III clinical trial in Europe for the treatment of symptomatic and advanced colorectal cancer.

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