XBiotech (NASDAQ:XBIT) Posts Earnings Results

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

XBiotech Stock Performance

Shares of NASDAQ XBIT opened at $3.42 on Wednesday. The firm has a market cap of $104.25 million, a price-to-earnings ratio of -3.17 and a beta of 1.25. The business’s 50-day simple moving average is $3.41 and its 200-day simple moving average is $5.51. XBiotech has a 52 week low of $2.94 and a 52 week high of $9.96.

Institutional Inflows and Outflows

An institutional investor recently raised its position in XBiotech stock. Bank of America Corp DE raised its holdings in XBiotech Inc. (NASDAQ:XBIT) by 42.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,888 shares of the biopharmaceutical company’s stock after buying an additional 5,887 shares during the quarter. 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.

XBiotech Company Profile

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.