XBiotech Inc. (NASDAQ:XBIT) Short Interest Update
by Teresa Graham · The Cerbat GemXBiotech Inc. (NASDAQ:XBIT – Get Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 144,176 shares, an increase of 21.3% from the March 15th total of 118,904 shares. Based on an average daily volume of 64,178 shares, the days-to-cover ratio is presently 2.2 days. Currently, 0.7% of the company’s shares are sold short.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of XBIT. Bank of America Corp DE lifted its position in XBiotech by 42.0% during the fourth quarter. Bank of America Corp DE now owns 19,888 shares of the biopharmaceutical company’s stock valued at $79,000 after buying an additional 5,887 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of XBiotech in the second quarter valued at $61,000. Qube Research & Technologies Ltd purchased a new position in shares of XBiotech in the second quarter valued at $96,000. Jane Street Group LLC purchased a new position in shares of XBiotech in the second quarter valued at $75,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of XBiotech by 27.1% in the second quarter. BNP Paribas Financial Markets now owns 20,729 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 4,416 shares during the period. 55.70% of the stock is owned by institutional investors and hedge funds.
XBiotech Stock Up 1.2%
Shares of XBIT stock opened at $2.46 on Friday. The stock has a market cap of $75.01 million, a price-to-earnings ratio of -1.64 and a beta of 0.84. XBiotech has a fifty-two week low of $2.09 and a fifty-two week high of $3.61. The firm’s 50 day moving average price is $2.35 and its two-hundred day moving average price is $2.44.
XBiotech (NASDAQ:XBIT – Get Free Report) last announced its quarterly earnings results on Friday, March 13th. The biopharmaceutical company reported ($0.88) earnings per share for the quarter.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings restated a “sell (d-)” rating on shares of XBiotech in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.
Get Our Latest Research Report on XBiotech
XBiotech Company Profile
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.