XBiotech Inc. (NASDAQ:XBIT) Sees Large Growth in Short Interest

XBiotech Inc. (NASDAQ:XBIT) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 946,100 shares, a growth of 68.0% from the June 30th total of 563,100 shares. Currently, 4.8% of the company’s shares are short sold. Based on an average daily volume of 131,100 shares, the days-to-cover ratio is currently 7.2 days.

XBiotech Stock Performance

NASDAQ:XBIT opened at $7.24 on Friday. XBiotech has a fifty-two week low of $3.51 and a fifty-two week high of $9.96. The firm has a market cap of $220.53 million, a PE ratio of -7.10 and a beta of 1.39. The business has a 50 day moving average price of $6.47 and a 200-day moving average price of $6.76.

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

Institutional Trading of XBiotech

Several large investors have recently modified their holdings of XBIT. National Bank of Canada FI purchased a new stake in XBiotech in the 4th quarter worth approximately $103,000. Empowered Funds LLC raised its holdings in shares of XBiotech by 7.9% during the first quarter. Empowered Funds LLC now owns 64,277 shares of the biopharmaceutical company’s stock valued at $523,000 after acquiring an additional 4,725 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in XBiotech by 102.9% in the second quarter. Bank of New York Mellon Corp now owns 98,314 shares of the biopharmaceutical company’s stock worth $505,000 after acquiring an additional 49,863 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in XBiotech by 1.6% in the first quarter. Vanguard Group Inc. now owns 895,315 shares of the biopharmaceutical company’s stock valued at $7,279,000 after acquiring an additional 13,804 shares in the last quarter. 55.70% of the stock is owned by institutional investors.

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.