XBiotech (NASDAQ:XBIT) Share Price Passes Above Fifty Day Moving Average – Here’s What Happened

Shares of XBiotech Inc. (NASDAQ:XBIT) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $6.89 and traded as high as $7.60. XBiotech shares last traded at $7.51, with a volume of 25,832 shares trading hands.

XBiotech Stock Up 1.4 %

The firm has a market capitalization of $220.52 million, a P/E ratio of -7.10 and a beta of 1.41. The firm has a 50 day moving average of $6.92 and a 200-day moving average of $7.10.

XBiotech (NASDAQ:XBIT) last issued its quarterly earnings results on Monday, August 12th. The biopharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On XBiotech

Several institutional investors and hedge funds have recently added to or reduced their stakes in XBIT. American Century Companies Inc. bought a new stake in XBiotech during the second quarter worth $393,000. Bank of New York Mellon Corp lifted its stake in XBiotech by 102.9% during the second quarter. Bank of New York Mellon Corp now owns 98,314 shares of the biopharmaceutical company’s stock worth $505,000 after purchasing an additional 49,863 shares during the last quarter. Rhumbline Advisers lifted its stake in XBiotech by 2,568.5% during the second quarter. Rhumbline Advisers now owns 20,094 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 19,341 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of XBiotech by 1.6% during the first quarter. Vanguard Group Inc. now owns 895,315 shares of the biopharmaceutical company’s stock worth $7,279,000 after buying an additional 13,804 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of 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 currently 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.