XBiotech Inc. (NASDAQ:XBIT) Short Interest Down 14.3% in June

XBiotech Inc. (NASDAQ:XBIT) was the recipient of a large drop in short interest in June. As of June 30th, there was short interest totalling 563,100 shares, a drop of 14.3% from the June 15th total of 657,300 shares. Approximately 2.9% of the shares of the stock are short sold. Based on an average daily volume of 133,100 shares, the days-to-cover ratio is currently 4.2 days.

XBiotech Stock Performance

XBIT opened at $6.22 on Monday. The company has a market capitalization of $189.46 million, a PE ratio of -6.10 and a beta of 1.39. The stock’s fifty day moving average is $6.92 and its 200-day moving average is $6.62. XBiotech has a one year low of $3.51 and a one year high of $9.96.

XBiotech (NASDAQ:XBIT) last released its earnings results on Friday, May 10th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter.

Institutional Trading of XBiotech

Hedge funds and other institutional investors have recently made changes to their positions in the business. National Bank of Canada FI acquired a new stake in shares of XBiotech during the fourth quarter worth $103,000. Empowered Funds LLC boosted its position in shares of XBiotech by 7.9% in the 1st quarter. Empowered Funds LLC now owns 64,277 shares of the biopharmaceutical company’s stock valued at $523,000 after purchasing an additional 4,725 shares during the period. Finally, Vanguard Group Inc. increased its stake in XBiotech by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 895,315 shares of the biopharmaceutical company’s stock worth $7,279,000 after purchasing an additional 13,804 shares in the last quarter. 55.70% of the stock is currently owned by institutional investors.

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.