XBiotech (NASDAQ:XBIT) Stock Crosses Below 50 Day Moving Average - Here's What Happened

Key Points

• XBiotech Inc. (NASDAQ:XBIT) shares fell below their 50-day moving average of $2.98, trading as low as $2.63 and closing at $2.75.
• The company reported an EPS of ($0.06) for the most recent quarter on August 13th, indicating ongoing financial challenges.
• Institutional investors own 55.70% of XBiotech's stock, with notable increases in holdings by firms such as Northern Trust Corp and Bank of America Corp DE during the last quarter.

XBiotech Inc. (NASDAQ:XBIT - Get Free Report) shares crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $2.98 and traded as low as $2.63. XBiotech shares last traded at $2.75, with a volume of 170,144 shares traded.

XBiotech Trading Up 1.1%

The stock has a market capitalization of $83.85 million, a P/E ratio of -2.99 and a beta of 0.85. The company has a 50-day moving average price of $2.98 and a 200 day moving average price of $2.99.

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 Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in XBIT. Northern Trust Corp increased its position in XBiotech by 15.2% during the 4th quarter. Northern Trust Corp now owns 211,476 shares of the biopharmaceutical company's stock valued at $835,000 after buying an additional 27,909 shares in the last quarter. Bank of America Corp DE increased its position in XBiotech by 42.0% during the 4th quarter. Bank of America Corp DE now owns 19,888 shares of the biopharmaceutical company's stock valued at $79,000 after buying an additional 5,887 shares in the last quarter. Deutsche Bank AG acquired a new position in XBiotech during the 4th quarter valued at about $120,000. Charles Schwab Investment Management Inc. increased its position in XBiotech by 15.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 67,355 shares of the biopharmaceutical company's stock valued at $218,000 after buying an additional 8,918 shares in the last quarter. Finally, Nuveen LLC acquired a new position in XBiotech during the 1st quarter valued at about $81,000. 55.70% of the stock is owned by institutional investors and hedge funds.

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.

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