XBiotech (NASDAQ:XBIT) Posts Quarterly Earnings Results

Key Points

• XBiotech reported a quarterly earnings per share (EPS) of ($0.06), indicating financial challenges in the recent quarter.
• After the earnings release, XBiotech's stock price rose by $0.10 to reach $3.24, with a market capitalization of $98.79 million.
• Institutional investors have increased their stake in XBiotech, with notable acquisitions from Bank of America and Qube Research, bringing institutional ownership to 55.70%.

XBiotech (NASDAQ:XBIT - Get Free Report) released its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($0.06) EPS for the quarter, Zacks reports.

XBiotech Stock Up 0.3%

Shares of XBIT traded up $0.01 during mid-day trading on Tuesday, hitting $3.21. 60,445 shares of the company's stock were exchanged, compared to its average volume of 39,587. The firm has a fifty day moving average of $2.91 and a two-hundred day moving average of $3.03. XBiotech has a twelve month low of $2.50 and a twelve month high of $8.32. The stock has a market cap of $97.87 million, a price-to-earnings ratio of -3.49 and a beta of 0.97.

Institutional Investors Weigh In On XBiotech

Large investors have recently bought and sold shares of the business. Qube Research & Technologies Ltd bought a new position in XBiotech during the second quarter valued at about $96,000. Jane Street Group LLC acquired a new position in shares of XBiotech during the 2nd quarter valued at about $75,000. BNP Paribas Financial Markets raised its stake in shares of XBiotech by 27.1% in the 2nd 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. XTX Topco Ltd bought a new position in shares of XBiotech in the 2nd quarter valued at approximately $61,000. Finally, Bank of America Corp DE lifted its holdings in XBiotech by 42.0% in the 4th quarter. Bank of America Corp DE now owns 19,888 shares of the biopharmaceutical company's stock worth $79,000 after purchasing an additional 5,887 shares during the last quarter. 55.70% of the stock is currently owned by institutional investors.

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.