XBiotech (NASDAQ:XBIT) Stock Crosses Below 50-Day Moving Average – Should You Sell?

XBiotech Inc. (NASDAQ:XBIT) passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $2.23 and traded as low as $2.15. XBiotech shares last traded at $2.16, with a volume of 78,397 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of XBiotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, September 28th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, XBiotech presently has an average rating of “Sell”.

XBiotech Stock Down 5.7%

The company has a 50 day simple moving average of $2.23 and a 200-day simple moving average of $2.32. The stock has a market cap of $65.86 million, a price-to-earnings ratio of -1.46 and a beta of 0.79.

XBiotech (NASDAQ:XBIT) last released its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.25).

Hedge Funds Weigh In On XBiotech

Several large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new position in XBiotech in the first quarter worth $53,000. Bank of America Corp DE acquired a new stake in shares of XBiotech during the second quarter worth $55,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of XBiotech during the second quarter worth $64,000. GSA Capital Partners LLP acquired a new stake in shares of XBiotech during the second quarter worth $71,000. Finally, Bank of New York Mellon Corp bought a new position in shares of XBiotech in the 2nd quarter worth about $91,000. 55.70% of the stock is currently owned by institutional investors.

About XBiotech

XBiotech, Inc is a clinical-stage biotechnology company focused on developing therapies based on naturally occurring human antibodies. Its True Human antibody platform is designed to identify and produce antibody-based medicines that replicate immune proteins found in healthy individuals, with the goal of treating inflammatory, oncologic and other serious diseases.

The company’s leading candidate has been bermekimab, a monoclonal antibody that targets interleukin-1 alpha, an inflammatory protein involved in multiple disease processes.