Stock analysts at StockNews.com initiated coverage on shares of XBiotech (NASDAQ:XBIT – Get Rating) in a report issued on Wednesday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.
XBiotech Stock Performance
Shares of NASDAQ:XBIT opened at $3.48 on Wednesday. The company has a 50-day simple moving average of $3.41 and a 200-day simple moving average of $3.54. XBiotech has a one year low of $3.00 and a one year high of $6.49. The stock has a market capitalization of $105.93 million, a price-to-earnings ratio of -2.92 and a beta of 1.22.
Institutional Investors Weigh In On XBiotech
A number of institutional investors and hedge funds have recently made changes to their positions in XBIT. Price T Rowe Associates Inc. MD increased its stake in shares of XBiotech by 21.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 17,600 shares of the biopharmaceutical company’s stock worth $99,000 after acquiring an additional 3,146 shares during the period. Geode Capital Management LLC grew its position in XBiotech by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 155,083 shares of the biopharmaceutical company’s stock worth $544,000 after buying an additional 3,342 shares during the period. Swiss National Bank grew its position in XBiotech by 8.8% during the first quarter. Swiss National Bank now owns 46,800 shares of the biopharmaceutical company’s stock worth $404,000 after buying an additional 3,800 shares during the period. PDT Partners LLC grew its position in XBiotech by 29.9% during the second quarter. PDT Partners LLC now owns 16,976 shares of the biopharmaceutical company’s stock worth $96,000 after buying an additional 3,912 shares during the period. Finally, BlackRock Inc. grew its position in XBiotech by 1.6% during the third quarter. BlackRock Inc. now owns 258,934 shares of the biopharmaceutical company’s stock worth $938,000 after buying an additional 4,002 shares during the period. 10.06% of the stock is owned by hedge funds and other institutional investors.
XBiotech Company Profile
XBiotech, Inc is a biopharmaceutical company, which engages in the development and commercialization of therapeutic antibodies. Its product pipeline includes oncology, infectious diseases, dermatology and inflammatory disorders. The company was founded by John Simard on March 22, 2005 and is headquartered in Austin, TX.
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