XBiotech (NASDAQ:XBIT) Director John Simard Acquires 368,524 Shares of Company Stock

Key Points

• Director John Simard bought 368,524 XBiotech shares at an average price of $1.93, investing approximately $711,251 and increasing his stake by 9.64% to 4.19 million shares.
• XBiotech shares recently traded at $1.99, near the lower end of their 52-week range of $1.80 to $3.44. The company reported a quarterly loss of $0.22 per share, missing the consensus estimate by $0.25.
• Analyst sentiment remains negative, with the stock carrying an average “Sell” rating, although institutional ownership stands at 55.70% after several investment firms initiated positions.

XBiotech Inc. (NASDAQ:XBIT - Get Free Report) Director John Simard purchased 368,524 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was purchased at an average cost of $1.93 per share, with a total value of $711,251.32. Following the purchase, the director owned 4,191,690 shares in the company, valued at $8,089,961.70. This represents a 9.64% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

XBiotech Price Performance

NASDAQ:XBIT traded up $0.14 during mid-day trading on Wednesday, reaching $1.99. The stock had a trading volume of 309,832 shares, compared to its average volume of 42,140. The stock has a market cap of $60.68 million, a P/E ratio of -1.34 and a beta of 0.79. The business's 50 day moving average is $2.17 and its 200 day moving average is $2.33. XBiotech Inc. has a fifty-two week low of $1.80 and a fifty-two week high of $3.44.

XBiotech (NASDAQ:XBIT - Get Free Report) last posted its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.25).

Analyst Ratings Changes

Separately, Weiss Ratings upgraded XBiotech from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, October 16th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company presently has an average rating of "Sell".

Institutional Trading of XBiotech

Several large investors have recently modified their holdings of XBIT. BlackRock Inc. bought a new position in XBiotech in the 2nd quarter worth $739,000. Empowered Funds LLC bought a new stake in XBiotech during the second quarter valued at about $137,000. Bank of New York Mellon Corp bought a new stake in XBiotech during the second quarter valued at about $91,000. GSA Capital Partners LLP bought a new stake in XBiotech during the second quarter valued at about $71,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in XBiotech during the second quarter valued at about $64,000. 55.70% of the stock is owned by institutional investors.

XBiotech Company Profile

XBiotech, Inc is a biotechnology company focused on discovering, developing and commercializing therapies based on True Human antibodies. Its research platform is designed to produce fully human antibodies that target specific biological pathways involved in inflammation and other serious diseases.

The company's leading investigational product is bermekimab, an antibody designed to neutralize interleukin-1 alpha, a protein associated with inflammation and disease progression. Bermekimab has been evaluated in clinical studies involving conditions including cancer, inflammatory skin diseases and other disorders.

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