XBiotech Inc. (NASDAQ:XBIT) Sees Significant Decrease in Short Interest

XBiotech Inc. (NASDAQ:XBIT) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totaling 119,500 shares, a decrease of 30.1% from the September 15th total of 170,900 shares. Based on an average trading volume of 52,300 shares, the short-interest ratio is currently 2.3 days. Currently, 0.6% of the company’s shares are short sold. Currently, 0.6% of the company’s shares are short sold. Based on an average trading volume of 52,300 shares, the short-interest ratio is currently 2.3 days.

Institutional Investors Weigh In On XBiotech

Several hedge funds and other institutional investors have recently made changes to their positions in XBIT. Bank of America Corp DE raised its position in shares of XBiotech by 42.0% during the 4th quarter. Bank of America Corp DE now owns 19,888 shares of the biopharmaceutical company’s stock worth $79,000 after acquiring an additional 5,887 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of XBiotech by 15.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 67,355 shares of the biopharmaceutical company’s stock worth $218,000 after acquiring an additional 8,918 shares in the last quarter. Nuveen LLC acquired a new stake in shares of XBiotech during the 1st quarter worth about $81,000. Hsbc Holdings PLC acquired a new stake in shares of XBiotech during the 1st quarter worth about $52,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in XBiotech during the 2nd quarter worth approximately $142,000. Institutional investors and hedge funds own 55.70% of the company’s stock.

XBiotech Price Performance

XBIT stock opened at $2.46 on Friday. The firm has a market capitalization of $75.01 million, a P/E ratio of -2.67 and a beta of 0.85. The business’s 50-day moving average is $2.83 and its two-hundred day moving average is $2.89. XBiotech has a 1 year low of $2.35 and a 1 year high of $8.32.

XBiotech (NASDAQ:XBIT) last posted its quarterly earnings results on Wednesday, August 13th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of XBiotech in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, XBiotech presently has a consensus rating of “Sell”.

About XBiotech

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.