XBiotech (NASDAQ:XBIT) Shares Pass Above 50 Day Moving Average of $6.63

XBiotech Inc. (NASDAQ:XBIT)’s share price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $6.63 and traded as high as $7.93. XBiotech shares last traded at $6.79, with a volume of 289,689 shares trading hands.

XBiotech Stock Down 14.6 %

The company has a market cap of $206.82 million, a PE ratio of -6.66 and a beta of 1.41. The stock’s 50 day moving average is $6.63 and its 200-day moving average is $7.10.

XBiotech (NASDAQ:XBIT) last announced its earnings results on Monday, August 12th. The biopharmaceutical company reported ($0.43) earnings per share for the quarter.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its holdings in shares of XBiotech by 2,568.5% in the 2nd quarter. Rhumbline Advisers now owns 20,094 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 19,341 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of XBiotech in the 2nd quarter valued at about $393,000. Bank of New York Mellon Corp boosted its stake in XBiotech by 102.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 98,314 shares of the biopharmaceutical company’s stock worth $505,000 after purchasing an additional 49,863 shares in the last quarter. Empowered Funds LLC boosted its stake in XBiotech by 7.9% in the 1st quarter. Empowered Funds LLC now owns 64,277 shares of the biopharmaceutical company’s stock worth $523,000 after purchasing an additional 4,725 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in XBiotech by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 895,315 shares of the biopharmaceutical company’s stock worth $7,279,000 after purchasing an additional 13,804 shares in the last quarter. Hedge funds and other institutional investors own 55.70% of the company’s stock.

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.