XBiotech (NASDAQ:XBIT) Shares Cross Below 200-Day Moving Average - Time to Sell?

Key Points

• XBiotech shares fell below their 200-day moving average, trading as low as $2.19 versus the $2.36 average, with a market capitalization of approximately $66.77 million.
• Analyst sentiment remains negative: Weiss Ratings upgraded the stock’s rating but kept it within the “Sell” category, while the company’s overall MarketBeat rating is also “Sell.”
• XBiotech reported a quarterly loss of $0.22 per share, missing the consensus estimate of a $0.03 loss by $0.25; institutional investors own 55.7% of the stock.

XBiotech Inc. (NASDAQ:XBIT - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.36 and traded as low as $2.19. XBiotech shares last traded at $2.19, with a volume of 109,028 shares.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of XBiotech from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 18th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of "Sell".

XBiotech Stock Performance

The firm's 50 day simple moving average is $2.29 and its 200-day simple moving average is $2.36. The company has a market capitalization of $66.77 million, a price-to-earnings ratio of -1.48 and a beta of 0.85.

XBiotech (NASDAQ:XBIT - Get Free Report) last released 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).

Institutional Investors Weigh In On XBiotech

Several hedge funds have recently bought and sold shares of the business. Persistent Asset Partners Ltd acquired a new stake in XBiotech during the 4th quarter worth about $32,000. Bank of America Corp DE increased its holdings in shares of XBiotech by 41.5% in the 2nd quarter. Bank of America Corp DE now owns 18,208 shares of the biopharmaceutical company's stock valued at $54,000 after purchasing an additional 5,344 shares during the period. XTX Topco Ltd purchased a new stake in shares of XBiotech in the second quarter worth approximately $61,000. BNP Paribas Financial Markets lifted its position in shares of XBiotech by 27.1% in the second 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 in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of XBiotech in the first quarter worth approximately $53,000. 55.70% of the stock is owned by hedge funds and other institutional investors.

About XBiotech

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.

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