Weiss Ratings Reiterates "Sell (E+)" Rating for XBiotech (NASDAQ:XBIT)

Key Points

• Weiss Ratings has reiterated its "Sell (E+)" rating for XBiotech (NASDAQ:XBIT) in a report issued recently.
• XBiotech's stock price has reached $2.69, with a market capitalization of $81.87 million and trading volume lower than its average.
• Recent institutional trading activity includes significant increases in stakes from BNP Paribas and Bank of America, indicating growing interest from hedge funds.

XBiotech (NASDAQ:XBIT - Get Free Report)'s stock had its "sell (e+)" rating restated by investment analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

XBiotech Price Performance

Shares of XBIT traded up $0.05 during mid-day trading on Wednesday, reaching $2.69. 43,440 shares of the company's stock were exchanged, compared to its average volume of 66,098. The stock has a market capitalization of $81.87 million, a PE ratio of -2.92 and a beta of 0.85. The business's fifty day simple moving average is $2.93 and its 200-day simple moving average is $2.94. XBiotech has a 52-week low of $2.50 and a 52-week 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 (EPS) for the quarter.

Institutional Investors Weigh In On XBiotech

Several hedge funds have recently modified their holdings of XBIT. BNP Paribas Financial Markets raised its stake in shares of XBiotech by 27.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 20,729 shares of the biopharmaceutical company's stock worth $62,000 after buying an additional 4,416 shares during the last quarter. Bank of America Corp DE raised its stake in shares of XBiotech by 41.5% during the 2nd quarter. Bank of America Corp DE now owns 18,208 shares of the biopharmaceutical company's stock worth $54,000 after buying an additional 5,344 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in XBiotech by 15.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 67,355 shares of the biopharmaceutical company's stock worth $218,000 after purchasing an additional 8,918 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in XBiotech during the 1st quarter worth about $52,000. Finally, XTX Topco Ltd purchased a new stake in XBiotech during the 2nd quarter worth about $61,000. 55.70% of the stock is owned by institutional investors and hedge funds.

About XBiotech

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.