XBiotech (XBIT) Projected to Post Earnings on Tuesday

Key Points

• XBiotech (NASDAQ:XBIT) will report earnings before the open on Tuesday, May 12; analysts expect about $0.03 EPS and $7.0M in revenue versus a ($0.88) EPS loss in the prior quarter.
• Shares trade around $2.57 with a market cap of $78.35M, a negative P/E (−1.71), 50/200-day moving averages near $2.38/$2.43, and a 52-week range of $2.09–$3.61.
• Institutional investors own about 55.7% of the stock with several funds adding small stakes recently, but analyst consensus is a "Sell" and Weiss Ratings maintains a sell-grade.

XBiotech (NASDAQ:XBIT - Get Free Report) is expected to be releasing its results before the market opens on Tuesday, May 12th. Analysts expect XBiotech to post earnings of $0.03 per share and revenue of $7.00 million for the quarter.

XBiotech (NASDAQ:XBIT - Get Free Report) last announced its earnings results on Friday, March 13th. The biopharmaceutical company reported ($0.88) EPS for the quarter.

XBiotech Price Performance

NASDAQ:XBIT traded up $0.02 during trading hours on Tuesday, reaching $2.57. 6,377 shares of the company traded hands, compared to its average volume of 38,309. The firm's 50-day moving average is $2.38 and its 200-day moving average is $2.43. The stock has a market cap of $78.35 million, a P/E ratio of -1.71 and a beta of 0.88. XBiotech has a 1-year low of $2.09 and a 1-year high of $3.61.

Institutional Investors Weigh In On XBiotech

Hedge funds have recently modified their holdings of the company. Persistent Asset Partners Ltd acquired a new stake in shares of XBiotech during the 4th quarter worth about $32,000. Bank of America Corp DE boosted its holdings in shares of XBiotech by 41.5% during the second 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 last quarter. XTX Topco Ltd acquired a new stake in shares of XBiotech during the second quarter worth $61,000. BNP Paribas Financial Markets boosted 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 worth $62,000 after purchasing an additional 4,416 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of XBiotech during the second quarter worth $75,000. 55.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded XBiotech from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of "Sell".

About XBiotech

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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