XBiotech Inc (NASDAQ:XBIT) was the recipient of a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 2,122,700 shares, an increase of 22.7% from the May 30th total of 1,729,800 shares. Based on an average daily volume of 184,300 shares, the days-to-cover ratio is presently 11.5 days. Currently, 16.2% of the company’s stock are short sold.
A number of research firms have recently commented on XBIT. Piper Jaffray Companies set a $120.00 price target on bluebird bio and gave the stock a “hold” rating in a report on Friday, June 14th. BidaskClub lowered XBiotech from a “buy” rating to a “hold” rating in a research note on Monday, April 15th.
NASDAQ:XBIT opened at $7.29 on Friday. The company has a market capitalization of $263.26 million, a price-to-earnings ratio of -12.36 and a beta of 0.49. XBiotech has a 52-week low of $2.13 and a 52-week high of $11.74. The company’s fifty day simple moving average is $7.68.
XBiotech (NASDAQ:XBIT) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter. Research analysts anticipate that XBiotech will post -0.61 EPS for the current year.
In other XBiotech news, major shareholder Fondation Rennes purchased 1,200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was bought at an average cost of $8.25 per share, with a total value of $9,900,000.00. Following the completion of the transaction, the insider now owns 5,110,282 shares of the company’s stock, valued at approximately $42,159,826.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 33.40% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Tibra Equities Europe Ltd bought a new stake in XBiotech during the first quarter valued at $750,000. Marshall Wace LLP bought a new stake in XBiotech during the first quarter valued at $682,000. Finally, Birchview Capital LP bought a new stake in XBiotech during the first quarter valued at $110,000. 7.05% of the stock is owned by institutional investors.
XBiotech Company Profile
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 bermekimab, 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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