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

Key Points

• XBiotech shares have risen above their fifty-day moving average, trading at $3.21, with a peak of $3.27, indicating potential positive momentum.
• The company has a market capitalization of $97.87 million and reported an earnings per share (EPS) of ($0.06) for the last quarter.
• Institutional investors hold 55.70% of XBiotech's stock, with several large entities recently increasing their stakes, reflecting growing interest in the company.

XBiotech Inc. (NASDAQ:XBIT - Get Free Report)'s share price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $2.91 and traded as high as $3.27. XBiotech shares last traded at $3.21, with a volume of 60,445 shares.

XBiotech Price Performance

The firm's 50-day simple moving average is $2.94 and its two-hundred day simple moving average is $3.03. The company has a market capitalization of $97.57 million, a price-to-earnings ratio of -3.48 and a beta of 0.97.

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

Institutional Investors Weigh In On XBiotech

Several hedge funds and other institutional investors have recently modified their holdings of XBIT. Hsbc Holdings PLC bought a new stake in shares of XBiotech during the 1st quarter valued at about $52,000. Bank of America Corp DE lifted its stake in XBiotech by 41.5% during the second quarter. Bank of America Corp DE now owns 18,208 shares of the biopharmaceutical company's stock valued at $54,000 after purchasing an additional 5,344 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of XBiotech by 68.2% during the fourth quarter. JPMorgan Chase & Co. now owns 14,624 shares of the biopharmaceutical company's stock valued at $58,000 after acquiring an additional 5,930 shares during the period. XTX Topco Ltd acquired a new stake in shares of XBiotech during the second quarter valued at approximately $61,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of XBiotech by 27.1% during the second 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 during the period. 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.