XBiotech Inc (NASDAQ:XBIT) Short Interest Up 6.9% in June

XBiotech Inc (NASDAQ:XBIT) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 1,729,800 shares, a growth of 6.9% from the May 15th total of 1,618,000 shares. Approximately 13.2% of the shares of the company are short sold. Based on an average daily volume of 150,100 shares, the days-to-cover ratio is presently 11.5 days.

Shares of XBiotech stock traded down $0.05 on Friday, reaching $7.14. 71,706 shares of the company were exchanged, compared to its average volume of 231,917. The business has a fifty day simple moving average of $7.44. The stock has a market cap of $257.85 million, a price-to-earnings ratio of -12.10 and a beta of 0.49. XBiotech has a fifty-two week low of $2.13 and a fifty-two week high of $11.74.

XBiotech (NASDAQ:XBIT) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter. On average, analysts expect that XBiotech will post -0.61 EPS for the current fiscal year.

Several brokerages have weighed in on XBIT. BidaskClub downgraded XBiotech from a “buy” rating to a “hold” rating in a research note on Monday, April 15th. Piper Jaffray Companies set a $120.00 price objective on bluebird bio and gave the stock a “hold” rating in a research note on Friday, June 14th.

In related news, major shareholder Fondation Rennes acquired 1,200,000 shares of XBiotech stock in a transaction that occurred on Tuesday, June 4th. The stock was acquired at an average price of $8.25 per share, for a total transaction of $9,900,000.00. Following the transaction, the insider now directly owns 5,110,282 shares of the company’s stock, valued at approximately $42,159,826.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 33.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Birchview Capital LP purchased a new position in XBiotech in the first quarter valued at about $110,000. Vanguard Group Inc. grew its stake in XBiotech by 5.5% in the third quarter. Vanguard Group Inc. now owns 834,523 shares of the biopharmaceutical company’s stock valued at $2,654,000 after purchasing an additional 43,648 shares in the last quarter. Marshall Wace LLP purchased a new position in XBiotech in the first quarter valued at about $682,000. Finally, Tibra Equities Europe Ltd purchased a new position in XBiotech in the first quarter valued at about $750,000. Hedge funds and other institutional investors own 7.05% of the company’s stock.

About XBiotech

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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