XBiotech (NASDAQ:XBIT) Issues Quarterly Earnings Results

XBiotech (NASDAQ:XBIT) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.17), FiscalAI reports.

XBiotech Price Performance

Shares of XBIT stock traded up $0.01 during trading hours on Thursday, hitting $1.96. 2,568 shares of the company’s stock were exchanged, compared to its average volume of 42,622. The stock’s 50-day moving average is $2.10 and its 200-day moving average is $2.30. The stock has a market cap of $59.76 million, a price-to-earnings ratio of -1.32 and a beta of 0.76. XBiotech has a 52 week low of $1.80 and a 52 week high of $2.90.

Insider Activity

In other XBiotech news, Director John Simard purchased 368,524 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The stock was acquired at an average cost of $1.93 per share, with a total value of $711,251.32. Following the completion of the acquisition, the director directly owned 4,191,690 shares of the company’s stock, valued at $8,089,961.70. This represents a 9.64% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 21.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of XBiotech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 30th. One research analyst has rated the stock with a Sell rating. According to MarketBeat, the company currently has a consensus rating of “Sell”.

XBiotech Company Profile

XBiotech, Inc. is a biotechnology company focused on discovering, developing and commercializing therapies based on True Human antibodies. Its research platform is designed to produce fully human antibodies that target specific biological pathways involved in inflammation and other serious diseases. The company’s leading investigational product is bermekimab, an antibody designed to neutralize interleukin-1 alpha, a protein associated with inflammation and disease progression. Bermekimab has been evaluated in clinical studies involving conditions including cancer, inflammatory skin diseases and other disorders.