XBiotech Inc. (NASDAQ:XBIT) Sees Significant Decline in Short Interest

Key Points

• XBiotech Inc. experienced a 28.1% decrease in short interest from July to August, bringing the total to 303,600 shares.
• The company's shares are currently trading at approximately $2.92, with a market cap of $89.03 million and a price-to-earnings ratio of -3.17.
• Recent hedge fund activity shows a significant interest in XBiotech, with institutional investors owning 55.70% of the company's stock.

XBiotech Inc. (NASDAQ:XBIT - Get Free Report) saw a significant drop in short interest in the month of August. As of August 15th, there was short interest totaling 303,600 shares, a drop of 28.1% from the July 31st total of 422,200 shares. Based on an average daily volume of 89,300 shares, the days-to-cover ratio is presently 3.4 days. Currently, 1.6% of the shares of the company are short sold. Currently, 1.6% of the shares of the company are short sold. Based on an average daily volume of 89,300 shares, the days-to-cover ratio is presently 3.4 days.

XBiotech Stock Performance

Shares of NASDAQ:XBIT traded down $0.07 during trading hours on Friday, hitting $2.75. The stock had a trading volume of 28,140 shares, compared to its average volume of 51,251. The stock's fifty day simple moving average is $3.01 and its 200 day simple moving average is $3.01. XBiotech has a 1-year low of $2.50 and a 1-year high of $8.32. The firm has a market capitalization of $83.85 million, a price-to-earnings ratio of -2.99 and a beta of 0.85.

XBiotech (NASDAQ:XBIT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The biopharmaceutical company reported ($0.06) EPS for the quarter.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC acquired a new position in shares of XBiotech during the first quarter valued at approximately $52,000. Deutsche Bank AG acquired a new position in shares of XBiotech during the fourth quarter valued at approximately $120,000. Northern Trust Corp increased its stake in shares of XBiotech by 15.2% during the fourth quarter. Northern Trust Corp now owns 211,476 shares of the biopharmaceutical company's stock valued at $835,000 after acquiring an additional 27,909 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of XBiotech by 15.3% during the first 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 during the period. Finally, Barclays PLC increased its stake in shares of XBiotech by 13.9% during the fourth quarter. Barclays PLC now owns 30,004 shares of the biopharmaceutical company's stock valued at $119,000 after acquiring an additional 3,661 shares during the period. Institutional investors and hedge funds own 55.70% of the company's stock.

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.