XBiotech (NASDAQ:XBIT) Releases Quarterly Earnings Results

XBiotech (NASDAQ:XBIT) released its earnings results on Tuesday. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, Zacks reports.

XBiotech Stock Performance

Shares of NASDAQ XBIT traded down $0.10 during trading on Tuesday, hitting $3.42. 30,626 shares of the company traded hands, compared to its average volume of 79,651. The business’s fifty day moving average is $3.43 and its 200 day moving average is $5.53. The firm has a market capitalization of $104.34 million, a price-to-earnings ratio of -3.17 and a beta of 1.25. XBiotech has a fifty-two week low of $2.94 and a fifty-two week high of $9.96.

Institutional Trading of XBiotech

A hedge fund recently raised its stake in XBiotech stock. Bank of America Corp DE grew its position in shares of XBiotech Inc. (NASDAQ:XBIT) by 42.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,888 shares of the biopharmaceutical company’s stock after acquiring an additional 5,887 shares during the quarter. Bank of America Corp DE owned about 0.07% of XBiotech worth $79,000 as of its most recent filing with the Securities & Exchange Commission. 55.70% of the stock is owned by hedge funds and other 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.