XBiotech (NASDAQ:XBIT) Stock Rating Reaffirmed by Zacks Investment Research

Zacks Investment Research reissued their sell rating on shares of XBiotech (NASDAQ:XBIT) in a research note published on Saturday morning, Zacks.com reports.

According to Zacks, “XBiotech Inc. is a biopharmaceutical company. The Company is engaged in discovering and developing True Human(TM) monoclonal antibodies for treating diseases. XBiotech Inc. is based in AUSTIN, United States. “

A number of other research firms have also weighed in on XBIT. ValuEngine lowered shares of XBiotech from a hold rating to a sell rating in a research report on Wednesday, October 2nd. BidaskClub lowered shares of XBiotech from a strong-buy rating to a buy rating in a research report on Friday, October 4th.

NASDAQ:XBIT opened at $9.30 on Friday. The firm has a 50 day simple moving average of $9.30 and a 200-day simple moving average of $8.44. The firm has a market cap of $412.15 million, a PE ratio of -15.76 and a beta of 0.44. XBiotech has a 1-year low of $3.30 and a 1-year high of $11.74.

XBiotech (NASDAQ:XBIT) last posted its quarterly earnings data on Friday, August 9th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). Equities analysts expect that XBiotech will post -0.62 earnings per share for the current year.

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new position in shares of XBiotech in the second quarter valued at approximately $34,000. A.R.T. Advisors LLC acquired a new position in XBiotech during the second quarter worth approximately $101,000. Citadel Advisors LLC acquired a new position in XBiotech during the second quarter worth approximately $146,000. Charles Schwab Investment Management Inc. acquired a new position in XBiotech during the second quarter worth approximately $309,000. Finally, Strs Ohio acquired a new position in XBiotech during the second quarter worth approximately $357,000. 10.75% of the stock is owned by institutional investors and hedge funds.

XBiotech Company Profile

XBiotech Inc, a pre-market biopharmaceutical company, engages in discovering and developing True Human monoclonal antibodies for treating various diseases. The company's lead product is bermekimab, a therapeutic antibody that neutralizes interleukin-1 alpha, which has completed Phase III clinical trial in Europe for the treatment of symptomatic and advanced colorectal cancer.

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