Short Interest in XBiotech Inc. (NASDAQ:XBIT) Decreases By 45.3%

Key Points

• Short interest in XBiotech Inc. decreased by 45.3% in August, dropping from 303,600 shares to 166,000 shares, indicating improved investor sentiment.
• Several institutional investors increased their stakes in XBiotech, with Bank of America raising its holdings by 41.5% in the second quarter.
• XBiotech's stock is currently trading at $2.75, with a market capitalization of $83.85 million and a twelve-month trading range between $2.50 and $8.32.

XBiotech Inc. (NASDAQ:XBIT - Get Free Report) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 166,000 shares, a decrease of 45.3% from the August 15th total of 303,600 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 89,600 shares, the days-to-cover ratio is currently 1.9 days. Based on an average daily volume of 89,600 shares, the days-to-cover ratio is currently 1.9 days. Currently, 0.9% of the shares of the company are sold short.

Institutional Trading of XBiotech

Several institutional investors and hedge funds have recently added to or reduced their stakes in XBIT. Northern Trust Corp increased its position in shares of XBiotech by 15.2% in the fourth quarter. Northern Trust Corp now owns 211,476 shares of the biopharmaceutical company's stock worth $835,000 after acquiring an additional 27,909 shares in the last quarter. RBF Capital LLC acquired a new position in shares of XBiotech in the second quarter worth $594,000. Charles Schwab Investment Management Inc. raised its stake in shares of XBiotech by 15.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 67,355 shares of the biopharmaceutical company's stock valued at $218,000 after acquiring an additional 8,918 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of XBiotech in the 2nd quarter valued at approximately $142,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of XBiotech in the 2nd quarter valued at approximately $96,000. 55.70% of the stock is owned by institutional investors and hedge funds.

XBiotech Price Performance

Shares of NASDAQ XBIT traded down $0.01 during midday trading on Friday, hitting $2.76. 12,013 shares of the company's stock were exchanged, compared to its average volume of 65,810. The firm has a market cap of $84.00 million, a P/E ratio of -2.99 and a beta of 0.85. XBiotech has a twelve month low of $2.50 and a twelve month high of $8.32. The stock's 50 day moving average price is $2.98 and its 200-day moving average price is $3.00.

XBiotech (NASDAQ:XBIT - Get Free Report) last released its earnings results on Wednesday, August 13th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter.

XBiotech Company Profile

XBiotech Inc, a biopharmaceutical company, discovers, develops, and commercializes True Human monoclonal antibodies for treating various diseases. The company focuses on developing a pipeline of product candidates targeting both inflammatory and infectious diseases. It is also developing interleukin-1 alpha therapies to treat variety of medical conditions, such as cancer, stroke, heart attack, or arthritis; and mediates tissue breakdown, angiogenesis, the formation of blood clots, malaise, muscle wasting, and inflammation.