XBiotech (NASDAQ:XBIT) Stock Price Passes Above Fifty Day Moving Average – Time to Sell?

XBiotech Inc. (NASDAQ:XBIT)’s share price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $2.45 and traded as high as $2.68. XBiotech shares last traded at $2.66, with a volume of 60,661 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of XBiotech in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, XBiotech has an average rating of “Sell”.

XBiotech Stock Up 4.3%

The company has a market capitalization of $81.10 million, a price-to-earnings ratio of -2.77 and a beta of 0.81. The firm has a 50 day moving average price of $2.45 and a two-hundred day moving average price of $2.68.

XBiotech (NASDAQ:XBIT) last released its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.20) EPS for the quarter.

Institutional Trading of XBiotech

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its holdings in XBiotech by 42.0% in the fourth quarter. Bank of America Corp DE now owns 19,888 shares of the biopharmaceutical company’s stock valued at $79,000 after acquiring an additional 5,887 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of XBiotech in the 2nd quarter worth about $142,000. XTX Topco Ltd acquired a new stake in shares of XBiotech in the 2nd quarter valued at about $61,000. Qube Research & Technologies Ltd bought a new position in shares of XBiotech during the second quarter worth about $96,000. Finally, RBF Capital LLC bought a new position in shares of XBiotech during the second quarter worth about $594,000. 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.