XBiotech (NASDAQ:XBIT) Issues Quarterly Earnings Results

XBiotech (NASDAQ:XBIT) issued its earnings results on Tuesday. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, Zacks reports.

XBiotech Trading Down 2.8 %

Shares of NASDAQ:XBIT traded down $0.10 during trading on Tuesday, reaching $3.42. The stock had a trading volume of 46,743 shares, compared to its average volume of 79,651. XBiotech has a one year low of $2.94 and a one year high of $9.96. The company has a market capitalization of $104.25 million, a P/E ratio of -3.17 and a beta of 1.25. The firm’s 50-day simple moving average is $3.43 and its 200 day simple moving average is $5.53.

Institutional Trading of XBiotech

An institutional investor recently raised its position in XBiotech stock. Bank of America Corp DE grew its position in XBiotech Inc. (NASDAQ:XBIT) by 42.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,888 shares of the biopharmaceutical company’s stock after buying an additional 5,887 shares during the period. Bank of America Corp DE owned 0.07% of XBiotech worth $79,000 at the end of the most recent quarter. 55.70% of the stock is currently owned by institutional investors and hedge funds.

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.