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XBiotech (NASDAQ:XBIT) Stock Passes Above 50-Day Moving Average - Time to Sell?

XBiotech logo with Medical background

XBiotech Inc. (NASDAQ:XBIT - Get Free Report) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $7.12 and traded as high as $8.25. XBiotech shares last traded at $7.36, with a volume of 114,193 shares trading hands.

XBiotech Stock Performance

The stock's 50 day simple moving average is $7.12 and its two-hundred day simple moving average is $6.99. The firm has a market capitalization of $227.23 million, a PE ratio of -6.34 and a beta of 1.42.

XBiotech (NASDAQ:XBIT - Get Free Report) last released its quarterly earnings data on Monday, August 12th. The biopharmaceutical company reported ($0.43) earnings per share for the quarter.

Hedge Funds Weigh In On XBiotech

Several institutional investors and hedge funds have recently bought and sold shares of XBIT. American Century Companies Inc. purchased a new stake in shares of XBiotech during the 2nd quarter valued at approximately $393,000. Rhumbline Advisers raised its position in XBiotech by 2,568.5% in the second quarter. Rhumbline Advisers now owns 20,094 shares of the biopharmaceutical company's stock valued at $103,000 after purchasing an additional 19,341 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of XBiotech by 102.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 98,314 shares of the biopharmaceutical company's stock valued at $505,000 after purchasing an additional 49,863 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of XBiotech by 1.6% during 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 increased its position in shares of XBiotech by 7.9% during 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 last quarter. 55.70% of the stock is currently owned by institutional investors and hedge funds.

About XBiotech

(Get Free Report)

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.

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