XBiotech (XBIT) Projected to Post Earnings on Tuesday

XBiotech (NASDAQ:XBIT) is projected to announce its results before the market opens on Tuesday, May 12th. Analysts expect the company to announce earnings of $0.03 per share and revenue of $7.00 million for the quarter.

XBiotech (NASDAQ:XBIT) last posted its quarterly earnings data on Friday, March 13th. The biopharmaceutical company reported ($0.88) earnings per share (EPS) for the quarter.

XBiotech Stock Up 0.8%

Shares of XBIT traded up $0.02 during mid-day trading on Tuesday, hitting $2.57. The company had a trading volume of 6,377 shares, compared to its average volume of 38,309. The business’s 50-day simple moving average is $2.38 and its 200-day simple moving average is $2.43. XBiotech has a 1-year low of $2.09 and a 1-year high of $3.61. The stock has a market cap of $78.35 million, a PE ratio of -1.71 and a beta of 0.88.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of XBiotech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd acquired a new position in XBiotech in the fourth quarter valued at $32,000. XTX Topco Ltd boosted its holdings in XBiotech by 44.1% in the fourth quarter. XTX Topco Ltd now owns 21,703 shares of the biopharmaceutical company’s stock valued at $52,000 after acquiring an additional 6,647 shares during the last quarter. Bank of America Corp DE boosted its holdings in XBiotech by 41.5% in the second quarter. Bank of America Corp DE now owns 18,208 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 5,344 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in XBiotech by 27.1% in the second quarter. BNP Paribas Financial Markets now owns 20,729 shares of the biopharmaceutical company’s stock valued at $62,000 after acquiring an additional 4,416 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in XBiotech during the second quarter valued at approximately $75,000. Institutional investors and hedge funds own 55.70% of the company’s stock.

About XBiotech

XBiotech Inc is a clinical-stage biopharmaceutical company developing human antibodies to treat cancer and other inflammatory-driven diseases. The company’s core technology, the True Human™ antibody platform, enables the discovery and development of monoclonal antibodies that mimic the human immune response without the need for genetic humanization. XBiotech’s lead therapeutic candidate targets interleukin-1 alpha (IL-1α), a key mediator of inflammation associated with tumor growth and chronic disease.

The company’s most advanced program, Xilonix® (MABp1), is a first-in-class anti-IL-1α antibody that has completed Phase 3 clinical trials in metastatic colorectal cancer patients.