XBiotech (NASDAQ:XBIT) Share Price Crosses Below 50-Day Moving Average - Should You Sell?

Key Points

• XBiotech Inc.'s stock price has fallen below its 50-day moving average of $2.92, trading as low as $2.67 recently.
• Weiss Ratings has issued a "sell (e+)" rating for XBiotech, contributing to a consensus rating of "Sell" for the stock.
• Several institutional investors have increased their stakes in XBiotech, with BNP Paribas Financial Markets boosting its holdings by 27.1% in the second quarter.

XBiotech Inc. (NASDAQ:XBIT - Get Free Report) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $2.92 and traded as low as $2.67. XBiotech shares last traded at $2.69, with a volume of 96,401 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of XBiotech in a research report on Wednesday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Sell".

XBiotech Trading Up 1.9%

The stock has a market capitalization of $82.02 million, a PE ratio of -2.92 and a beta of 0.85. The firm has a 50-day moving average price of $2.92 and a 200-day moving average price of $2.94.

XBiotech (NASDAQ:XBIT - Get Free Report) last announced its earnings results on Wednesday, August 13th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its stake in XBiotech by 27.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 20,729 shares of the biopharmaceutical company's stock worth $62,000 after purchasing an additional 4,416 shares during the period. Bank of America Corp DE boosted its stake in XBiotech by 41.5% in the 2nd quarter. Bank of America Corp DE now owns 18,208 shares of the biopharmaceutical company's stock worth $54,000 after purchasing an additional 5,344 shares during the period. Jane Street Group LLC bought a new position in XBiotech in the 2nd quarter worth about $75,000. RBF Capital LLC bought a new position in XBiotech in the 2nd quarter worth about $594,000. Finally, Qube Research & Technologies Ltd bought a new position in XBiotech in the 2nd quarter worth about $96,000. Institutional investors own 55.70% of the company's stock.

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.

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