XBiotech (NASDAQ:XBIT) Stock Crosses Below 50-Day Moving Average – Time to Sell?

XBiotech Inc. (NASDAQ:XBIT) passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $2.27 and traded as low as $2.17. XBiotech shares last traded at $2.17, with a volume of 21,881 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of XBiotech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

XBiotech Stock Down 1.8%

The firm’s 50-day simple moving average is $2.27 and its 200-day simple moving average is $2.34. The firm has a market capitalization of $65.55 million, a PE ratio of -1.45 and a beta of 0.85.

XBiotech (NASDAQ:XBIT) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.25).

Hedge Funds Weigh In On XBiotech

Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new stake in shares of XBiotech during the first quarter valued at approximately $53,000. Bank of America Corp DE bought a new position in shares of XBiotech in the second quarter worth approximately $55,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of XBiotech in the second quarter worth $64,000. GSA Capital Partners LLP purchased a new position in shares of XBiotech in the second quarter worth $71,000. Finally, Bank of New York Mellon Corp bought a new stake in XBiotech during the 2nd quarter valued at $91,000. 55.70% of the stock is owned by hedge funds and other institutional investors.

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.