XBiotech (NASDAQ:XBIT) Share Price Crosses Below 200-Day Moving Average - What's Next?

XBiotech Inc. (NASDAQ:XBIT - Get Free Report)'s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.40 and traded as low as $2.24. XBiotech shares last traded at $2.25, with a volume of 35,564 shares traded.

Wall Street Analysts Forecast Growth

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

XBiotech Stock Down 0.9%

The stock has a market capitalization of $68.60 million, a PE ratio of -1.70 and a beta of 0.86. The firm has a 50 day moving average price of $2.34 and a 200-day moving average price of $2.40.

XBiotech (NASDAQ:XBIT - Get Free Report) last issued its earnings results on Thursday, May 14th. The biopharmaceutical company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.21).

Institutional Investors Weigh In On XBiotech

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC raised its holdings in shares of XBiotech by 31.8% during the third quarter. Citadel Advisors LLC now owns 42,816 shares of the biopharmaceutical company's stock valued at $114,000 after acquiring an additional 10,333 shares during the last quarter. Jane Street Group LLC lifted its position in shares of XBiotech by 25.1% in the fourth quarter. Jane Street Group LLC now owns 69,738 shares of the biopharmaceutical company's stock valued at $167,000 after acquiring an additional 13,971 shares in the last quarter. State Street Corp boosted its stake in shares of XBiotech by 8.5% in the fourth quarter. State Street Corp now owns 73,006 shares of the biopharmaceutical company's stock worth $174,000 after acquiring an additional 5,700 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of 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 acquiring an additional 30,000 shares during the last quarter. 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 worth $165,000 after purchasing an additional 22,383 shares in the last quarter. Hedge funds and other institutional investors own 55.70% of the company's stock.

XBiotech Company Profile

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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