XBiotech (NASDAQ:XBIT) Announces Quarterly Earnings Results, Misses Estimates By $0.17 EPS

XBiotech (NASDAQ:XBIT) posted its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17), FiscalAI reports.

XBiotech Trading Up 0.5%

XBIT stock traded up $0.01 during trading on Thursday, hitting $1.96. The company had a trading volume of 2,568 shares, compared to its average volume of 42,622. The company has a fifty day moving average price of $2.10 and a two-hundred day moving average price of $2.30. The company has a market cap of $59.76 million, a P/E ratio of -1.32 and a beta of 0.76. XBiotech has a fifty-two week low of $1.80 and a fifty-two week high of $2.90.

Insider Transactions at XBiotech

In related news, Director John Simard acquired 368,524 shares of the business’s stock in a transaction on Monday, October 26th. The stock was bought at an average cost of $1.93 per share, with a total value of $711,251.32. Following the completion of the acquisition, the director owned 4,191,690 shares in the company, valued at $8,089,961.70. The trade was a 9.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 21.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of XBiotech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 30th. One research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock presently has an average rating of “Sell”.

XBiotech Company Profile

XBiotech, Inc. is a biotechnology company focused on discovering, developing and commercializing therapies based on True Human antibodies. Its research platform is designed to produce fully human antibodies that target specific biological pathways involved in inflammation and other serious diseases. The company’s leading investigational product is bermekimab, an antibody designed to neutralize interleukin-1 alpha, a protein associated with inflammation and disease progression. Bermekimab has been evaluated in clinical studies involving conditions including cancer, inflammatory skin diseases and other disorders.