XBiotech Inc. (NASDAQ:XBIT) Sees Large Decline in Short Interest

XBiotech Inc. (NASDAQ:XBIT) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 800,100 shares, a decline of 23.1% from the February 28th total of 1,040,000 shares. Approximately 4.1% of the shares of the company are sold short. Based on an average daily trading volume, of 63,700 shares, the days-to-cover ratio is presently 12.6 days.

Hedge Funds Weigh In On XBiotech

Several institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC boosted its holdings in shares of XBiotech by 13.9% during the 4th quarter. Barclays PLC now owns 30,004 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 3,661 shares during the period. Charles Schwab Investment Management Inc. lifted its position in XBiotech by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 58,437 shares of the biopharmaceutical company’s stock worth $452,000 after acquiring an additional 4,298 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of XBiotech by 2.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 253,770 shares of the biopharmaceutical company’s stock worth $1,962,000 after acquiring an additional 5,500 shares during the period. Bank of America Corp DE grew its position in shares of XBiotech by 42.0% in the fourth quarter. Bank of America Corp DE now owns 19,888 shares of the biopharmaceutical company’s stock valued at $79,000 after purchasing an additional 5,887 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of XBiotech by 68.2% in the fourth quarter. JPMorgan Chase & Co. now owns 14,624 shares of the biopharmaceutical company’s stock valued at $58,000 after purchasing an additional 5,930 shares during the last quarter. 55.70% of the stock is currently owned by institutional investors and hedge funds.

XBiotech Stock Down 4.3 %

NASDAQ:XBIT opened at $3.10 on Monday. XBiotech has a 12-month low of $2.94 and a 12-month high of $9.96. The firm has a market capitalization of $94.51 million, a price-to-earnings ratio of -2.87 and a beta of 1.25. The stock’s 50 day moving average price is $3.33 and its two-hundred day moving average price is $5.35.

XBiotech (NASDAQ:XBIT) last posted its earnings results on Tuesday, March 18th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter.

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.