XBiotech (NASDAQ:XBIT) Stock Price Crosses Below 50 Day Moving Average of $7.29

XBiotech Inc. (NASDAQ:XBIT)’s share price passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $7.29 and traded as low as $4.85. XBiotech shares last traded at $5.55, with a volume of 255,502 shares traded.

XBiotech Stock Performance

The firm has a market capitalization of $176.36 million, a P/E ratio of -5.68 and a beta of 1.39. The firm has a 50-day moving average of $7.20 and a 200-day moving average of $6.50.

XBiotech (NASDAQ:XBIT) last released its quarterly earnings results on Friday, May 10th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter.

Hedge Funds Weigh In On XBiotech

Institutional investors have recently bought and sold shares of the stock. National Bank of Canada FI bought a new position in XBiotech in the 4th quarter worth $103,000. Vanguard Group Inc. raised its holdings 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 during the period. Finally, Empowered Funds LLC raised its holdings 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 during the period. 55.70% of the stock is owned by 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.