XBiotech (NASDAQ:XBIT) Share Price Passes Below 50-Day Moving Average – Time to Sell?

XBiotech Inc. (NASDAQ:XBIT)’s share price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $2.94 and traded as low as $2.57. XBiotech shares last traded at $2.64, with a volume of 73,201 shares traded.

XBiotech Trading Down 4.3%

The company has a market cap of $80.49 million, a PE ratio of -2.44 and a beta of 0.97. The firm has a 50 day moving average of $2.94 and a two-hundred day moving average of $3.69.

XBiotech (NASDAQ:XBIT) last released its quarterly earnings data on Wednesday, May 14th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On XBiotech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Deutsche Bank AG bought a new position in XBiotech in the 4th quarter valued at approximately $120,000. Northern Trust Corp lifted its position in XBiotech by 15.2% in the 4th quarter. Northern Trust Corp now owns 211,476 shares of the biopharmaceutical company’s stock valued at $835,000 after acquiring an additional 27,909 shares in the last quarter. JPMorgan Chase & Co. lifted its position in XBiotech by 68.2% in the 4th quarter. JPMorgan Chase & Co. now owns 14,624 shares of the biopharmaceutical company’s stock valued at $58,000 after acquiring an additional 5,930 shares in the last quarter. Barclays PLC lifted its position in XBiotech by 13.9% in the 4th quarter. Barclays PLC now owns 30,004 shares of the biopharmaceutical company’s stock valued at $119,000 after acquiring an additional 3,661 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of XBiotech by 7.5% during the 4th quarter. Bank of New York Mellon Corp now owns 91,060 shares of the biopharmaceutical company’s stock valued at $360,000 after buying an additional 6,328 shares during the period. 55.70% of the stock is owned by institutional investors.

XBiotech Company Profile

XBiotech Inc, a biopharmaceutical company, discovers, develops, and commercializes True Human monoclonal antibodies for treating various diseases. The company focuses on developing a pipeline of product candidates targeting both inflammatory and infectious diseases. It is also developing interleukin-1 alpha therapies to treat variety of medical conditions, such as cancer, stroke, heart attack, or arthritis; and mediates tissue breakdown, angiogenesis, the formation of blood clots, malaise, muscle wasting, and inflammation.