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 significant 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 company's stock are sold short. Based on an average daily volume of 89,600 shares, the days-to-cover ratio is presently 1.9 days. Based on an average daily volume of 89,600 shares, the days-to-cover ratio is presently 1.9 days. Currently, 0.9% of the company's stock are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in XBIT. Hsbc Holdings PLC purchased a new position in shares of XBiotech in the first quarter valued at $52,000. Bank of America Corp DE raised its holdings in XBiotech by 41.5% in the second quarter. Bank of America Corp DE now owns 18,208 shares of the biopharmaceutical company's stock valued at $54,000 after acquiring an additional 5,344 shares in the last quarter. XTX Topco Ltd acquired a new stake in XBiotech in the second quarter valued at $61,000. BNP Paribas Financial Markets raised its holdings in XBiotech by 27.1% in the second quarter. BNP Paribas Financial Markets now owns 20,729 shares of the biopharmaceutical company's stock valued at $62,000 after acquiring an additional 4,416 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in XBiotech in the second quarter valued at $75,000. 55.70% of the stock is currently owned by hedge funds and other institutional investors.

XBiotech Trading Down 2.5%

Shares of XBIT stock opened at $2.75 on Friday. The company has a market capitalization of $83.85 million, a PE ratio of -2.99 and a beta of 0.85. The firm has a fifty day simple moving average of $3.01 and a 200-day simple moving average of $3.01. XBiotech has a twelve month low of $2.50 and a twelve month high of $8.32.

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

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