Short Interest in XBiotech Inc. (NASDAQ:XBIT) Declines By 14.3%

XBiotech Inc. (NASDAQ:XBIT) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 563,100 shares, a decline of 14.3% from the June 15th total of 657,300 shares. Based on an average daily volume of 133,100 shares, the days-to-cover ratio is currently 4.2 days. Currently, 2.9% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in XBiotech by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 895,315 shares of the biopharmaceutical company’s stock valued at $7,279,000 after buying an additional 13,804 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of XBiotech by 7.9% in the first quarter. Empowered Funds LLC now owns 64,277 shares of the biopharmaceutical company’s stock worth $523,000 after acquiring an additional 4,725 shares during the period. Finally, National Bank of Canada FI bought a new stake in shares of XBiotech in the fourth quarter worth $103,000. Institutional investors own 55.70% of the company’s stock.

XBiotech Price Performance

Shares of NASDAQ:XBIT opened at $6.29 on Tuesday. XBiotech has a 1 year low of $3.51 and a 1 year high of $9.96. The company has a market cap of $191.59 million, a P/E ratio of -6.17 and a beta of 1.39. The stock’s fifty day moving average price is $6.86 and its 200-day moving average price is $6.63.

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

XBiotech Company Profile

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.