XBiotech (NASDAQ:XBIT) Stock Passes Above Fifty Day Moving Average – Should You Sell?

XBiotech Inc. (NASDAQ:XBIT) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $6.99 and traded as high as $7.65. XBiotech shares last traded at $7.39, with a volume of 62,083 shares changing hands.

XBiotech Trading Up 1.2 %

The stock has a fifty day simple moving average of $7.03 and a two-hundred day simple moving average of $7.02. The company has a market cap of $223.90 million, a PE ratio of -6.26 and a beta of 1.41.

XBiotech (NASDAQ:XBIT) last announced its quarterly earnings data on Monday, August 12th. The biopharmaceutical company reported ($0.43) earnings per share for the quarter.

Institutional Investors Weigh In On XBiotech

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC raised its position in shares of XBiotech by 7.9% during the 1st quarter. Empowered Funds LLC now owns 64,277 shares of the biopharmaceutical company’s stock worth $523,000 after purchasing an additional 4,725 shares during the last quarter. Vanguard Group Inc. raised its position in shares of XBiotech by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 895,315 shares of the biopharmaceutical company’s stock worth $7,279,000 after purchasing an additional 13,804 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of XBiotech by 102.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 98,314 shares of the biopharmaceutical company’s stock worth $505,000 after purchasing an additional 49,863 shares during the last quarter. Rhumbline Advisers raised its position in shares of XBiotech by 2,568.5% during the 2nd quarter. Rhumbline Advisers now owns 20,094 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 19,341 shares during the last quarter. Finally, American Century Companies Inc. acquired a new position in shares of XBiotech during the 2nd quarter worth approximately $393,000. 55.70% of the stock is currently owned by institutional investors and hedge funds.

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.