XBiotech (NASDAQ:XBIT) Releases Quarterly Earnings Results, Misses Expectations By $0.25 EPS

XBiotech (NASDAQ:XBITGet Free Report) announced its earnings results on Thursday. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.25), FiscalAI reports.

XBiotech Stock Performance

NASDAQ XBIT traded down $0.03 during trading on Friday, reaching $2.30. 46,499 shares of the company traded hands, compared to its average volume of 36,027. XBiotech has a 1-year low of $2.09 and a 1-year high of $3.61. The company has a market cap of $70.13 million, a price-to-earnings ratio of -1.55 and a beta of 0.84. The stock’s 50 day moving average price is $2.31 and its two-hundred day moving average price is $2.37.

Hedge Funds Weigh In On XBiotech

Several hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd bought a new stake in XBiotech in the second quarter valued at $61,000. Bridgeway Capital Management LLC lifted its holdings in shares of 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 period. State Street Corp boosted its stake in shares of XBiotech by 8.5% in the 4th 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 in the last quarter. Jane Street Group LLC boosted its stake in shares of XBiotech by 25.1% in the 4th quarter. Jane Street Group LLC now owns 69,738 shares of the biopharmaceutical company’s stock valued at $167,000 after purchasing an additional 13,971 shares in the last quarter. Finally, Squarepoint Ops LLC grew its holdings in shares of XBiotech by 56.3% in the 3rd quarter. Squarepoint Ops LLC now owns 62,159 shares of the biopharmaceutical company’s stock worth $165,000 after purchasing an additional 22,383 shares during the last quarter. Institutional investors own 55.70% of the company’s stock.

Wall Street Analyst Weigh In

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

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XBiotech Company Profile

(Get Free Report)

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

See Also

Earnings History for XBiotech (NASDAQ:XBIT)

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