XBiotech Inc. (NASDAQ:XBIT) Short Interest Down 45.3% in August

XBiotech Inc. (NASDAQ:XBIT) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totaling 166,000 shares, a decrease of 45.3% from the August 15th total of 303,600 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average trading volume of 89,600 shares, the short-interest ratio is presently 1.9 days. Based on an average trading volume of 89,600 shares, the short-interest ratio is presently 1.9 days. Approximately 0.9% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Northern Trust Corp increased its holdings in shares of XBiotech by 15.2% during the fourth quarter. Northern Trust Corp now owns 211,476 shares of the biopharmaceutical company’s stock valued at $835,000 after purchasing an additional 27,909 shares during the period. RBF Capital LLC bought a new position in XBiotech during the second quarter valued at about $594,000. Charles Schwab Investment Management Inc. boosted its stake in XBiotech by 15.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 67,355 shares of the biopharmaceutical company’s stock valued at $218,000 after buying an additional 8,918 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in XBiotech during the second quarter valued at about $142,000. Finally, Qube Research & Technologies Ltd bought a new position in XBiotech during the second quarter valued at about $96,000. 55.70% of the stock is owned by institutional investors and hedge funds.

XBiotech Trading Down 2.5%

XBIT stock opened at $2.75 on Monday. The firm has a market cap of $83.85 million, a P/E ratio of -2.99 and a beta of 0.85. XBiotech has a 12-month low of $2.50 and a 12-month high of $8.32. The stock’s 50 day simple moving average is $3.01 and its 200 day simple moving average is $3.01.

XBiotech (NASDAQ:XBIT) last issued its earnings results on Wednesday, August 13th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter.

About XBiotech

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.