XBiotech (NASDAQ:XBIT) Stock Price Crosses Above 50 Day Moving Average of $7.45

XBiotech Inc. (NASDAQ:XBIT) shares crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $7.45 and traded as high as $8.39. XBiotech shares last traded at $8.21, with a volume of 45,963 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of XBiotech in a report on Thursday, February 15th. They set a “sell” rating for the company.

XBiotech Stock Down 4.1 %

The company has a market capitalization of $239.64 million, a PE ratio of -9.60 and a beta of 1.45. The company’s 50 day moving average is $7.49 and its two-hundred day moving average is $5.42.

XBiotech (NASDAQ:XBIT) last posted its earnings results on Friday, March 15th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter.

Hedge Funds Weigh In On XBiotech

A hedge fund recently bought a new stake in XBiotech stock. National Bank of Canada FI bought a new position in XBiotech Inc. (NASDAQ:XBIT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 24,347 shares of the biopharmaceutical company’s stock, valued at approximately $103,000. National Bank of Canada FI owned about 0.08% of XBiotech at the end of the most recent 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.