XBiotech Inc (NASDAQ:XBIT) shares rose 26.4% during trading on Wednesday . The company traded as high as $3.20 and last traded at $2.92. Approximately 678,188 shares traded hands during trading, an increase of 808% from the average daily volume of 74,651 shares. The stock had previously closed at $2.31.

In other XBiotech news, Director W Thorpe Mckenzie sold 11,875 shares of the firm’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $4.45, for a total transaction of $52,843.75. Following the completion of the transaction, the director now owns 3,898,600 shares in the company, valued at $17,348,770. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 139,177 shares of company stock valued at $537,588. Corporate insiders own 37.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC acquired a new stake in shares of XBiotech during the second quarter worth approximately $931,000. Paloma Partners Management Co increased its holdings in shares of XBiotech by 479.1% during the second quarter. Paloma Partners Management Co now owns 89,025 shares of the biopharmaceutical company’s stock worth $399,000 after buying an additional 73,652 shares in the last quarter. LMR Partners LLP acquired a new stake in shares of XBiotech during the second quarter worth approximately $154,000. Dimensional Fund Advisors LP increased its holdings in shares of XBiotech by 47.4% during the first quarter. Dimensional Fund Advisors LP now owns 37,610 shares of the biopharmaceutical company’s stock worth $201,000 after buying an additional 12,099 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of XBiotech by 139.5% during the fourth quarter. Deutsche Bank AG now owns 45,677 shares of the biopharmaceutical company’s stock worth $179,000 after buying an additional 26,608 shares in the last quarter. 5.07% of the stock is owned by institutional investors.

XBiotech Company Profile (NASDAQ:XBIT)

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 Xilonix, which is also known as MABp1, 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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