XBiotech (NASDAQ:XBIT) Posts Earnings Results, Misses Expectations By $0.25 EPS

XBiotech (NASDAQ:XBIT) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.25), FiscalAI reports.

XBiotech Trading Down 5.3%

NASDAQ XBIT traded down $0.13 during trading hours on Thursday, hitting $2.33. 40,762 shares of the company’s stock traded hands, compared to its average volume of 35,837. XBiotech has a 52 week low of $2.09 and a 52 week high of $3.61. The firm has a market capitalization of $71.04 million, a P/E ratio of -1.77 and a beta of 0.84. The business’s fifty day moving average price is $2.31 and its two-hundred day moving average price is $2.38.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE increased its stake in shares of XBiotech by 42.0% in the 4th quarter. Bank of America Corp DE now owns 19,888 shares of the biopharmaceutical company’s stock worth $79,000 after purchasing an additional 5,887 shares in the last quarter. XTX Topco Ltd bought a new position in XBiotech in the 2nd quarter worth $61,000. Qube Research & Technologies Ltd purchased a new position in XBiotech during the second quarter valued at $96,000. Jane Street Group LLC purchased a new position in XBiotech during the second quarter valued at $75,000. Finally, BNP Paribas Financial Markets grew its holdings in XBiotech by 27.1% during the second quarter. BNP Paribas Financial Markets now owns 20,729 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 4,416 shares during the period. Hedge funds and other institutional investors own 55.70% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings cut XBiotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

XBiotech Company Profile

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.