XBiotech (NASDAQ:XBIT) Lifted to Hold at BidaskClub

BidaskClub upgraded shares of XBiotech (NASDAQ:XBIT) from a sell rating to a hold rating in a research note published on Friday morning, BidAskClub reports.

A number of other research firms also recently issued reports on XBIT. Piper Jaffray Companies assumed coverage on XBiotech in a research note on Friday, June 14th. They issued an overweight rating and a $13.00 price objective on the stock. ValuEngine downgraded XBiotech from a buy rating to a hold rating in a research note on Thursday.

NASDAQ:XBIT opened at $7.30 on Friday. XBiotech has a 1 year low of $2.13 and a 1 year high of $11.74. The business has a 50 day moving average price of $7.36. The company has a market cap of $262.90 million, a P/E ratio of -12.37 and a beta of 0.48.

XBiotech (NASDAQ:XBIT) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter. As a group, equities analysts forecast that XBiotech will post -0.61 earnings per share for the current fiscal year.

In other news, major shareholder Fondation Rennes acquired 1,200,000 shares of XBiotech stock in a transaction on Tuesday, June 4th. The shares were acquired at an average price of $8.25 per share, with a total value of $9,900,000.00. Following the purchase, the insider now directly owns 5,110,282 shares in the company, valued at approximately $42,159,826.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 33.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Tibra Equities Europe Ltd purchased a new position in shares of XBiotech in the 1st quarter worth approximately $750,000. Marshall Wace LLP purchased a new position in shares of XBiotech in the 1st quarter worth approximately $682,000. Strs Ohio purchased a new position in shares of XBiotech in the 2nd quarter worth approximately $357,000. Finally, Birchview Capital LP purchased a new position in shares of XBiotech in the 1st quarter worth approximately $110,000. Hedge funds and other institutional investors own 7.05% of the company’s stock.

XBiotech Company Profile

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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