XBiotech (NASDAQ:XBIT) Issues Quarterly Earnings Results, Misses Estimates By $0.25 EPS

Key Points

• XBiotech reported a quarterly loss of $0.22 per share, missing analysts’ consensus estimate of a $0.03 profit by $0.25.
• XBIT shares fell $0.13 to $2.33, giving the company a market capitalization of approximately $71 million; the stock remains near its 52-week low of $2.09.
• Wall Street sentiment remains negative: Weiss Ratings downgraded the stock to “sell (e+),” and the sole tracked analyst rates XBiotech “Sell.” Institutional investors own about 55.7% of the company.

XBiotech (NASDAQ:XBIT - Get Free Report) released its earnings results on Thursday. The biopharmaceutical company reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.25), FiscalAI reports.

XBiotech Stock Performance

XBIT stock traded down $0.13 during trading on Thursday, hitting $2.33. 40,762 shares of the company traded hands, compared to its average volume of 35,837. The company has a 50-day moving average of $2.31 and a 200-day moving average of $2.38. XBiotech has a 1 year low of $2.09 and a 1 year high of $3.61. The firm has a market capitalization of $71.04 million, a PE ratio of -1.77 and a beta of 0.84.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered XBiotech from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of "Sell".

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Qube Research & Technologies Ltd bought a new stake in XBiotech during the 2nd quarter valued at about $96,000. Bridgeway Capital Management LLC raised its holdings in XBiotech by 50.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 89,547 shares of the biopharmaceutical company's stock worth $214,000 after buying an additional 30,000 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of XBiotech by 160.3% in the third quarter. Bank of America Corp DE now owns 47,389 shares of the biopharmaceutical company's stock worth $126,000 after buying an additional 29,181 shares in the last quarter. Jane Street Group LLC bought a new position in shares of XBiotech in the second quarter worth approximately $75,000. Finally, Squarepoint Ops LLC increased its position in shares of XBiotech by 56.3% during the third quarter. Squarepoint Ops LLC now owns 62,159 shares of the biopharmaceutical company's stock valued at $165,000 after acquiring an additional 22,383 shares in the last quarter. Hedge funds and other institutional investors own 55.70% of the company's stock.

About XBiotech

XBiotech Inc is a clinical-stage biopharmaceutical company developing human antibodies to treat cancer and other inflammatory-driven diseases. The company's core technology, the True Human™ antibody platform, enables the discovery and development of monoclonal antibodies that mimic the human immune response without the need for genetic humanization. XBiotech's lead therapeutic candidate targets interleukin-1 alpha (IL-1α), a key mediator of inflammation associated with tumor growth and chronic disease.

The company's most advanced program, Xilonix® (MABp1), is a first-in-class anti-IL-1α antibody that has completed Phase 3 clinical trials in metastatic colorectal cancer patients.

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