Short Interest in XBiotech Inc. (NASDAQ:XBIT) Declines By 30.1%
XBiotech Inc. (NASDAQ:XBIT) experienced a 30.1% decline in short interest in September, with total short interest dropping to 119,500 shares from 170,900. This represents approximately 0.6% of the company's shares. The days-to-cover ratio is currently 2.3 days based on an average trading volume of 52,300 shares. Analysts maintain a consensus "Sell" rating on the stock, which is currently priced at $2.49, down 3.9%. Institutional investors hold 55.70% of the stock, with recent purchases from various hedge funds.
XBiotech Inc. (NASDAQ:XBIT - Get Free Report) was the target of a large drop in short interest in September. As of September 30th, there was short interest totaling 119,500 shares, a drop of 30.1% from the September 15th total of 170,900 shares. Based on an average trading volume of 52,300 shares, the short-interest ratio is currently 2.3 days. Approximately 0.6% of the company's stock are short sold. Approximately 0.6% of the company's stock are short sold. Based on an average trading volume of 52,300 shares, the short-interest ratio is currently 2.3 days.
Analyst Ratings Changes
Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of XBiotech in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Sell".
Get Our Latest Stock Analysis on XBiotech
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC purchased a new position in shares of XBiotech in the 1st quarter valued at approximately $52,000. Bank of America Corp DE grew its stake in shares of XBiotech by 41.5% in the 2nd quarter. Bank of America Corp DE now owns 18,208 shares of the biopharmaceutical company's stock valued at $54,000 after purchasing an additional 5,344 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of XBiotech in the 2nd quarter valued at approximately $61,000. BNP Paribas Financial Markets grew its stake in shares of XBiotech by 27.1% in the 2nd 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 last quarter. Finally, Jane Street Group LLC purchased a new position in shares of XBiotech in the 2nd quarter valued at approximately $75,000. 55.70% of the stock is currently owned by hedge funds and other institutional investors.
XBiotech Stock Down 3.9%
NASDAQ:XBIT opened at $2.49 on Thursday. The stock's 50 day moving average price is $2.84 and its 200 day moving average price is $2.90. The company has a market capitalization of $75.92 million, a PE ratio of -2.71 and a beta of 0.85. XBiotech has a 52-week low of $2.35 and a 52-week high of $8.32.
XBiotech (NASDAQ:XBIT - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter.
About XBiotech
(Get Free Report)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.
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