XBiotech (NASDAQ:XBIT) Announces Earnings Results

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

XBiotech Stock Performance

XBIT stock traded down $0.10 during trading on Tuesday, reaching $3.42. The company had a trading volume of 46,743 shares, compared to its average volume of 79,651. The firm has a 50-day simple moving average of $3.43 and a 200-day simple moving average of $5.53. The company has a market cap of $104.25 million, a price-to-earnings ratio of -3.17 and a beta of 1.25. XBiotech has a twelve month low of $2.94 and a twelve month high of $9.96.

Hedge Funds Weigh In On XBiotech

A hedge fund recently raised its stake in XBiotech stock. Bank of America Corp DE boosted its holdings in shares of XBiotech Inc. (NASDAQ:XBIT) by 42.0% in the fourth quarter, according to its most recent filing with the Securities and 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 reporting period. 55.70% of the stock is owned by hedge funds and other institutional investors.

About XBiotech

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.