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

XBiotech Inc. (NASDAQ:XBIT) saw a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 907,400 shares, a growth of 15.2% from the January 15th total of 787,900 shares. Based on an average daily trading volume, of 71,300 shares, the days-to-cover ratio is presently 12.7 days. Currently, 4.7% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in XBiotech by 5.1% in the third quarter. Geode Capital Management LLC now owns 452,264 shares of the biopharmaceutical company’s stock valued at $3,496,000 after acquiring an additional 22,059 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in XBiotech by 2.2% in 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 valued at $1,962,000 after acquiring an additional 5,500 shares during the last quarter. State Street Corp boosted its holdings in XBiotech by 10.7% in the third quarter. State Street Corp now owns 224,595 shares of the biopharmaceutical company’s stock valued at $1,736,000 after acquiring an additional 21,752 shares during the last quarter. Northern Trust Corp boosted its holdings in XBiotech by 15.2% in the fourth quarter. Northern Trust Corp now owns 211,476 shares of the biopharmaceutical company’s stock valued at $835,000 after acquiring an additional 27,909 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in XBiotech by 7.5% in the fourth quarter. Bank of New York Mellon Corp now owns 91,060 shares of the biopharmaceutical company’s stock valued at $360,000 after acquiring an additional 6,328 shares during the last quarter. Institutional investors and hedge funds own 55.70% of the company’s stock.

XBiotech Stock Up 1.9 %

XBiotech stock opened at $3.27 on Friday. The business has a 50 day moving average of $4.36 and a 200-day moving average of $6.04. XBiotech has a 1 year low of $3.05 and a 1 year high of $9.96.

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.