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XBiotech (NASDAQ:XBIT) Share Price Crosses Above 50-Day Moving Average - Here's Why

XBiotech logo with Medical background

XBiotech Inc. (NASDAQ:XBIT - Get Free Report)'s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $2.86 and traded as high as $3.20. XBiotech shares last traded at $3.17, with a volume of 28,527 shares traded.

XBiotech Stock Performance

The company has a market cap of $96.50 million, a PE ratio of -2.45 and a beta of 0.98. The stock's 50-day simple moving average is $2.86 and its 200 day simple moving average is $3.32.

XBiotech (NASDAQ:XBIT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter.

Institutional Trading of XBiotech

Several hedge funds have recently modified their holdings of XBIT. Northern Trust Corp grew its position in XBiotech by 15.2% during the fourth quarter. Northern Trust Corp now owns 211,476 shares of the biopharmaceutical company's stock worth $835,000 after buying an additional 27,909 shares during the period. Bank of New York Mellon Corp increased its stake in XBiotech by 7.5% in the 4th quarter. Bank of New York Mellon Corp now owns 91,060 shares of the biopharmaceutical company's stock valued at $360,000 after purchasing an additional 6,328 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in XBiotech by 15.3% during the first 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 during the last quarter. Deutsche Bank AG acquired a new position in XBiotech during the fourth quarter worth $120,000. Finally, Barclays PLC boosted its position in XBiotech by 13.9% during the fourth quarter. Barclays PLC now owns 30,004 shares of the biopharmaceutical company's stock worth $119,000 after purchasing an additional 3,661 shares in the last quarter. 55.70% of the stock is owned by institutional investors and hedge funds.

About XBiotech

(Get Free Report)

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.

Further Reading

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.

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