XBiotech (NASDAQ:XBIT) Stock Passes Above 50 Day Moving Average – Should You Sell?

XBiotech Inc. (NASDAQ:XBIT) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $2.41 and traded as high as $2.48. XBiotech shares last traded at $2.48, with a volume of 23,524 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings cut XBiotech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, XBiotech has a consensus rating of “Sell”.

XBiotech Stock Up 3.8%

The company has a 50 day simple moving average of $2.41 and a 200-day simple moving average of $2.43. The stock has a market cap of $75.62 million, a price-to-earnings ratio of -1.88 and a beta of 0.88.

XBiotech (NASDAQ:XBIT) last announced its quarterly earnings data on Thursday, May 14th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.21).

Institutional Trading of XBiotech

Several institutional investors and hedge funds have recently bought and sold shares of XBIT. Persistent Asset Partners Ltd acquired a new stake in XBiotech during the fourth quarter valued at approximately $32,000. XTX Topco Ltd raised its position in shares of XBiotech by 44.1% during the 4th quarter. XTX Topco Ltd now owns 21,703 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 6,647 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of XBiotech during the 1st quarter worth approximately $53,000. Bank of America Corp DE raised its position in shares of XBiotech by 41.5% during the 2nd quarter. Bank of America Corp DE now owns 18,208 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 5,344 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of XBiotech by 27.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 20,729 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 4,416 shares during the period. Institutional investors and hedge funds 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.