XBiotech Faces Sell Rating as StockNews.com Initiates Coverage

On a recent Wednesday, StockNews.com began its analysis of XBiotech (NASDAQ:XBIT), assigning a 'sell' rating to the biopharmaceutical company. This stance by the equity research analysts comes as the latest assessment of the company's performance in the stock market.

XBiotech Stock Performance

Opening the trading day, XBiotech's shares stood at $5.42. Observing recent trends, the company's stock has been trading with a fifty day moving average of $4.37 and a more extended two-hundred day average of $4.42. The past year has seen XBiotech's stock fluctuate, reaching a high of $6.69 and plunging to a low of $3.05 at various points.

Institutional Investors and XBiotech

Several hedge funds have shifted their investments in XBiotech. Notable movements include BNP Paribas Arbitrage SNC, which increased its position by 550.8% in the second quarter, now owning 9,587 shares valued at approximately $57,000. Another example is Virtu Financial LLC, which commenced a new stake in the company valued around $62,000. More active trading is seen from Jane Street Group LLC and PDT Partners LLC, with the latter investing about $113,000 in the first quarter. JPMorgan Chase & Co. also amplified its holdings by 72.8%, now possessing shares worth $131,000. Collectively, institutional investors and hedge funds hold 11.45% of XBiotech’s stock.

About XBiotech

XBiotech Inc. is in the business of discovering and developing True Human monoclonal antibodies aimed at treating a variety of diseases. The company has a slew of product candidates targeting inflammatory and infectious diseases under development. Their pipeline includes the development of therapies based on interleukin-1 alpha, which hold potential for treating conditions such as cancer, strokes, heart attacks, and arthritis among others. These therapies are geared towards addressing issues related to tissue breakdown, blood clot formation, fatigue, muscle wasting, and overarching inflammation.

XBiotech, Sell, Rating