XBiotech (NASDAQ:XBIT) Announces Quarterly Earnings Results, Misses Estimates By $0.21 EPS

by · The Cerbat Gem

XBiotech (NASDAQ:XBIT – Get Free Report) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.21), FiscalAI reports.

XBiotech Stock Performance

Shares of XBIT remained flat at $2.50 during trading on Thursday. The company’s stock had a trading volume of 6,187 shares, compared to its average volume of 37,491. The business’s fifty day moving average price is $2.40 and its two-hundred day moving average price is $2.43. XBiotech has a one year low of $2.09 and a one year high of $3.61. The company has a market cap of $76.22 million, a P/E ratio of -1.67 and a beta of 0.88.

Analyst Ratings Changes

Separately, Weiss Ratings lowered XBiotech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Check Out Our Latest Stock Report on XBIT

Hedge Funds Weigh In On XBiotech

A number of institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its position in shares of XBiotech by 27.1% in the 2nd 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 in the last quarter. Bank of America Corp DE raised its position in shares of XBiotech by 41.5% in the 2nd quarter. Bank of America Corp DE now owns 18,208 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 5,344 shares in the last quarter. State Street Corp raised its position 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. XTX Topco Ltd raised its position in shares of XBiotech by 44.1% in the 4th quarter. XTX Topco Ltd now owns 21,703 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 6,647 shares in the last quarter. Finally, Citadel Advisors LLC raised its position in shares of XBiotech by 31.8% in the 3rd quarter. Citadel Advisors LLC now owns 42,816 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 10,333 shares in the last quarter. 55.70% of the stock is owned by institutional investors and hedge funds.

About XBiotech

(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.

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