ValuEngine Lowers XBiotech (NASDAQ:XBIT) to Hold

XBiotech (NASDAQ:XBIT) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Thursday, ValuEngine reports.

Several other research firms have also weighed in on XBIT. Piper Jaffray Companies assumed coverage on XBiotech in a report on Friday, June 14th. They set an “overweight” rating and a $13.00 target price on the stock. BidaskClub lowered XBiotech from a “hold” rating to a “sell” rating in a report on Friday, July 26th.

Shares of NASDAQ:XBIT traded up $0.24 during midday trading on Thursday, hitting $7.28. The company had a trading volume of 70,335 shares, compared to its average volume of 170,063. XBiotech has a 12 month low of $2.13 and a 12 month high of $11.74. The company has a market cap of $261.08 million, a PE ratio of -12.34 and a beta of 0.49. The business has a fifty day moving average of $7.35.

XBiotech (NASDAQ:XBIT) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter. On average, analysts expect that XBiotech will post -0.61 earnings per share for the current year.

In other XBiotech news, major shareholder Fondation Rennes bought 1,200,000 shares of XBiotech stock in a transaction on Tuesday, June 4th. The shares were purchased at an average cost of $8.25 per share, for a total transaction of $9,900,000.00. Following the completion of the acquisition, the insider now owns 5,110,282 shares in the company, valued at approximately $42,159,826.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 33.40% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Birchview Capital LP bought a new position in XBiotech during the first quarter worth about $110,000. Strs Ohio bought a new position in XBiotech during the second quarter worth about $357,000. Marshall Wace LLP bought a new position in XBiotech during the first quarter worth about $682,000. Finally, Tibra Equities Europe Ltd acquired a new stake in shares of XBiotech in the 1st quarter valued at about $750,000. Hedge funds and other institutional investors own 7.05% of the company’s stock.

About XBiotech

XBiotech Inc, a pre-market biopharmaceutical company, engages in discovering and developing True Human monoclonal antibodies for treating various diseases. The company's lead product is bermekimab, a therapeutic antibody that neutralizes interleukin-1 alpha, which has completed Phase III clinical trial in Europe for the treatment of symptomatic and advanced colorectal cancer.

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