XBiotech Inc. (NASDAQ:XBIT) Short Interest Up 452.0% in July

Key Points

• XBiotech Inc. experienced a significant increase in short interest, rising by 452.0% in July, with a total of 516,100 shares short as of July 15th.
• The company's stock is currently priced at $2.85, with a market cap of approximately $86.90 million and a 52-week trading range between $2.50 and $8.32.
• Institutional investors hold 55.70% of XBiotech's stock, with recent increases in holdings from firms such as Northern Trust Corp and Charles Schwab Investment Management.

XBiotech Inc. (NASDAQ:XBIT - Get Free Report) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 516,100 shares, agrowthof452.0% from the June 30th total of 93,500 shares. Approximately2.7% of the shares of the company are sold short. Based on an average daily volume of 93,700 shares, the days-to-cover ratio is currently 5.5 days. Based on an average daily volume of 93,700 shares, the days-to-cover ratio is currently 5.5 days. Approximately2.7% of the shares of the company are sold short.

Institutional Investors Weigh In On XBiotech

Hedge funds and other institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC bought a new position in shares of XBiotech in the first quarter worth $52,000. JPMorgan Chase & Co. grew its position in XBiotech by 68.2% in the fourth quarter. JPMorgan Chase & Co. now owns 14,624 shares of the biopharmaceutical company's stock valued at $58,000 after acquiring an additional 5,930 shares during the last quarter. Bank of America Corp DE grew its position in XBiotech by 42.0% in the fourth quarter. Bank of America Corp DE now owns 19,888 shares of the biopharmaceutical company's stock valued at $79,000 after acquiring an additional 5,887 shares during the last quarter. Nuveen LLC acquired a new stake in shares of XBiotech during the first quarter valued at about $81,000. Finally, Barclays PLC boosted 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 purchasing an additional 3,661 shares in the last quarter. Institutional investors and hedge funds own 55.70% of the company's stock.

XBiotech Stock Performance

Shares of XBIT stock traded down $0.00 during midday trading on Tuesday, hitting $2.85. 11,334 shares of the company were exchanged, compared to its average volume of 69,403. The firm has a market capitalization of $86.87 million, a P/E ratio of -2.21 and a beta of 0.97. XBiotech has a 52 week low of $2.50 and a 52 week high of $8.32. The firm's 50 day moving average price is $2.88 and its two-hundred day moving average price is $3.07.

XBiotech (NASDAQ:XBIT - Get Free Report) last posted its earnings results on Wednesday, May 14th. The biopharmaceutical company reported ($0.36) 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.