XBiotech (NASDAQ:XBIT) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

XBiotech Inc. (NASDAQ:XBIT)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.43 and traded as low as $2.35. XBiotech shares last traded at $2.35, with a volume of 14,913 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered XBiotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, XBiotech presently has a consensus rating of “Sell”.

XBiotech Price Performance

The company has a market cap of $71.35 million, a PE ratio of -1.77 and a beta of 0.85. The business has a 50-day moving average of $2.43 and a 200 day moving average of $2.43.

XBiotech (NASDAQ:XBIT) last posted its quarterly earnings data on Thursday, May 14th. The biopharmaceutical company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.21).

Institutional Trading of XBiotech

A number of hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in XBiotech during the first quarter valued at $53,000. XTX Topco Ltd increased its position in XBiotech by 44.1% during the fourth quarter. XTX Topco Ltd now owns 21,703 shares of the biopharmaceutical company’s stock valued at $52,000 after acquiring an additional 6,647 shares during the last quarter. Bridgeway Capital Management LLC increased its position in XBiotech by 50.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 89,547 shares of the biopharmaceutical company’s stock valued at $214,000 after acquiring an additional 30,000 shares during the last quarter. Persistent Asset Partners Ltd purchased a new stake in XBiotech during the fourth quarter valued at $32,000. Finally, State Street Corp grew its holdings in XBiotech by 8.5% during the fourth quarter. State Street Corp now owns 73,006 shares of the biopharmaceutical company’s stock valued at $174,000 after purchasing an additional 5,700 shares during the period. Hedge funds and other institutional investors own 55.70% of the company’s stock.

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-1?), 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-1? antibody that has completed Phase 3 clinical trials in metastatic colorectal cancer patients.