XBiotech (NASDAQ:XBIT) Stock Crosses Below 50-Day Moving Average – Should You Sell?

XBiotech Inc. (NASDAQ:XBIT) passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $2.23 and traded as low as $2.15. XBiotech shares last traded at $2.16, with a volume of 78,397 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of XBiotech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, September 28th. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, XBiotech has an average rating of “Sell”.

XBiotech Stock Performance

The stock has a market capitalization of $65.86 million, a price-to-earnings ratio of -1.46 and a beta of 0.79. The firm has a fifty day moving average of $2.23 and a 200-day moving average of $2.32.

XBiotech (NASDAQ:XBIT) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.25).

Institutional Investors Weigh In On XBiotech

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new stake in XBiotech during the 1st quarter worth approximately $53,000. Bank of America Corp DE acquired a new position in shares of XBiotech in the 2nd quarter valued at approximately $55,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of XBiotech during the 2nd quarter valued at approximately $64,000. GSA Capital Partners LLP purchased a new position in shares of XBiotech during the 2nd quarter valued at approximately $71,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of XBiotech during the 2nd quarter valued at approximately $91,000. 55.70% of the stock is currently owned by hedge funds and other institutional investors.

XBiotech Company Profile

XBiotech, Inc is a clinical-stage biotechnology company focused on developing therapies based on naturally occurring human antibodies. Its True Human antibody platform is designed to identify and produce antibody-based medicines that replicate immune proteins found in healthy individuals, with the goal of treating inflammatory, oncologic and other serious diseases.

The company’s leading candidate has been bermekimab, a monoclonal antibody that targets interleukin-1 alpha, an inflammatory protein involved in multiple disease processes.