XBiotech (NASDAQ:XBIT) Share Price Passes Below Fifty Day Moving Average – Here’s What Happened

Shares of XBiotech Inc. (NASDAQ:XBIT) crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $7.23 and traded as low as $6.55. XBiotech shares last traded at $6.67, with a volume of 39,715 shares changing hands.

XBiotech Trading Up 0.2 %

The business’s 50-day moving average is $7.23 and its two-hundred day moving average is $6.94.

Hedge Funds Weigh In On XBiotech

Several hedge funds have recently modified their holdings of XBIT. American Century Companies Inc. bought a new position in shares of XBiotech in the second quarter valued at approximately $393,000. Bank of New York Mellon Corp grew its stake in XBiotech by 102.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 98,314 shares of the biopharmaceutical company’s stock valued at $505,000 after purchasing an additional 49,863 shares during the period. BNP Paribas Financial Markets grew its stake in XBiotech by 184.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 40,040 shares of the biopharmaceutical company’s stock valued at $310,000 after purchasing an additional 25,987 shares during the period. Geode Capital Management LLC increased its position in shares of XBiotech by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 452,264 shares of the biopharmaceutical company’s stock valued at $3,496,000 after purchasing an additional 22,059 shares during the last quarter. Finally, State Street Corp raised its stake in shares of XBiotech by 10.7% during the 3rd quarter. State Street Corp now owns 224,595 shares of the biopharmaceutical company’s stock worth $1,736,000 after purchasing an additional 21,752 shares during the period. Institutional investors own 55.70% of the company’s stock.

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.