XBiotech (NASDAQ:XBIT) Share Price Crosses Below 50-Day Moving Average – Time to Sell?

XBiotech Inc. (NASDAQ:XBIT)’s stock price crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $3.17 and traded as low as $2.80. XBiotech shares last traded at $2.87, with a volume of 37,766 shares traded.

XBiotech Stock Down 0.3 %

The firm has a market cap of $87.50 million, a PE ratio of -2.66 and a beta of 1.28. The business has a 50-day moving average price of $3.16 and a two-hundred day moving average price of $4.69.

XBiotech (NASDAQ:XBIT) last posted its quarterly earnings results on Tuesday, March 18th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On XBiotech

A number of large investors have recently modified their holdings of XBIT. State Street Corp increased its holdings in XBiotech by 10.7% in the third quarter. State Street Corp now owns 224,595 shares of the biopharmaceutical company’s stock valued at $1,736,000 after buying an additional 21,752 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of XBiotech during the 3rd quarter worth about $86,000. Barclays PLC lifted its stake in XBiotech by 247.4% during the third quarter. Barclays PLC now owns 26,343 shares of the biopharmaceutical company’s stock worth $204,000 after purchasing an additional 18,761 shares during the last quarter. Geode Capital Management LLC boosted its holdings in XBiotech by 5.1% in the third quarter. Geode Capital Management LLC now owns 452,264 shares of the biopharmaceutical company’s stock valued at $3,496,000 after purchasing an additional 22,059 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in XBiotech by 7.5% in the fourth quarter. Bank of New York Mellon Corp now owns 91,060 shares of the biopharmaceutical company’s stock valued at $360,000 after purchasing an additional 6,328 shares during the last quarter. 55.70% of the stock is owned by hedge funds and other 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.