XBiotech Inc (NASDAQ:XBIT) major shareholder Street Financial S.A. Bay sold 1,662,616 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $6.38, for a total value of $10,607,490.08. Following the completion of the sale, the insider now directly owns 3,337,384 shares of the company’s stock, valued at $21,292,509.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Shares of XBIT traded down $0.19 during trading hours on Thursday, reaching $9.90. The stock had a trading volume of 11,514 shares, compared to its average volume of 502,153. XBiotech Inc has a 52 week low of $6.76 and a 52 week high of $26.40. The firm has a 50-day moving average of $13.54 and a 200 day moving average of $14.19. The company has a market cap of $414.60 million, a P/E ratio of -15.68 and a beta of 1.13.
A number of institutional investors have recently modified their holdings of XBIT. Meeder Asset Management Inc. bought a new stake in shares of XBiotech in the fourth quarter worth about $40,000. Bank of Montreal Can lifted its stake in XBiotech by 31.8% in the 4th quarter. Bank of Montreal Can now owns 2,390 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 576 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in XBiotech during the fourth quarter worth $92,000. Citigroup Inc. grew its position in XBiotech by 641.4% in the fourth quarter. Citigroup Inc. now owns 6,977 shares of the biopharmaceutical company’s stock valued at $130,000 after purchasing an additional 6,036 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in XBiotech in the 4th quarter valued at $214,000. 13.30% of the stock is currently owned by institutional investors and hedge funds.
XBiotech Company Profile
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.
See Also: Growth and Income Funds
Receive News & Ratings for XBiotech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for XBiotech and related companies with MarketBeat.com's FREE daily email newsletter.