XBiotech Inc. (NASDAQ:XBIT) Short Interest Up 68.0% in July

XBiotech Inc. (NASDAQ:XBIT) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 946,100 shares, an increase of 68.0% from the June 30th total of 563,100 shares. Currently, 4.8% of the shares of the company are short sold. Based on an average trading volume of 131,100 shares, the short-interest ratio is currently 7.2 days.

XBiotech Stock Performance

Shares of XBIT opened at $7.24 on Friday. The firm has a market cap of $220.53 million, a P/E ratio of -7.10 and a beta of 1.39. XBiotech has a 52 week low of $3.51 and a 52 week high of $9.96. The firm’s 50-day simple moving average is $6.47 and its 200 day simple moving average is $6.76.

XBiotech (NASDAQ:XBIT) last released its quarterly earnings results on Friday, May 10th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On XBiotech

Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its holdings in XBiotech by 102.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 98,314 shares of the biopharmaceutical company’s stock valued at $505,000 after purchasing an additional 49,863 shares during the period. National Bank of Canada FI bought a new stake in shares of XBiotech in the fourth quarter valued at approximately $103,000. Vanguard Group Inc. boosted its stake in shares of XBiotech by 1.6% in the first quarter. Vanguard Group Inc. now owns 895,315 shares of the biopharmaceutical company’s stock valued at $7,279,000 after buying an additional 13,804 shares during the period. Finally, Empowered Funds LLC grew its position in XBiotech by 7.9% during the first quarter. Empowered Funds LLC now owns 64,277 shares of the biopharmaceutical company’s stock worth $523,000 after buying an additional 4,725 shares in the last quarter. 55.70% of the stock is owned by institutional investors.

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.