BidaskClub upgraded shares of XBiotech (NASDAQ:XBIT) from a hold rating to a buy rating in a research note published on Wednesday, BidAskClub reports.

Several other equities research analysts have also recently issued reports on the stock. ValuEngine cut shares of XBiotech from a buy rating to a hold rating in a research report on Thursday, August 1st. Piper Jaffray Companies began coverage on shares of XBiotech in a research report on Friday, June 14th. They issued an overweight rating and a $13.00 price objective for the company.

XBiotech stock opened at $8.22 on Wednesday. The stock has a market cap of $337.11 million, a price-to-earnings ratio of -13.93 and a beta of 0.48. XBiotech has a 1 year low of $2.13 and a 1 year high of $11.74. The firm has a 50-day moving average of $7.44 and a two-hundred day moving average of $8.56.

In related news, major shareholder Fondation Rennes acquired 1,200,000 shares of the stock in a transaction on Tuesday, June 4th. The stock was bought at an average cost of $8.25 per share, with a total value of $9,900,000.00. Following the transaction, the insider now directly owns 5,110,282 shares in the company, valued at $42,159,826.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 33.40% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new stake in XBiotech in the 2nd quarter valued at about $34,000. Birchview Capital LP purchased a new stake in XBiotech in the 1st quarter valued at about $110,000. A.R.T. Advisors LLC purchased a new stake in XBiotech in the 2nd quarter valued at about $101,000. Citadel Advisors LLC purchased a new stake in XBiotech in the 2nd quarter valued at about $146,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in XBiotech in the 2nd quarter valued at about $309,000. 9.24% of the stock is owned by institutional investors.

XBiotech Company Profile

XBiotech Inc, a pre-market biopharmaceutical company, engages in discovering and developing True Human monoclonal antibodies for treating various diseases. The company's lead product is bermekimab, a therapeutic antibody that neutralizes interleukin-1 alpha, which has completed Phase III clinical trial in Europe for the treatment of symptomatic and advanced colorectal cancer.

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