ING Groep NV purchased a new position in shares of XBiotech Inc. (NASDAQ:XBIT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 53,611 shares of the biopharmaceutical company’s stock, valued at approximately $1,122,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in XBIT. Strs Ohio increased its stake in XBiotech by 1,284.6% in the second quarter. Strs Ohio now owns 18,000 shares of the biopharmaceutical company’s stock worth $376,000 after buying an additional 16,700 shares during the period. State Street Corp increased its stake in XBiotech by 54.4% in the first quarter. State Street Corp now owns 40,560 shares of the biopharmaceutical company’s stock worth $383,000 after buying an additional 14,290 shares during the period. Finally, Geode Capital Management LLC increased its stake in XBiotech by 1.6% in the first quarter. Geode Capital Management LLC now owns 41,170 shares of the biopharmaceutical company’s stock worth $389,000 after buying an additional 639 shares during the period. 8.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of XBiotech Inc. (NASDAQ:XBIT) traded down 0.07% during trading on Friday, reaching $13.53. 61,469 shares of the company were exchanged. XBiotech Inc. has a one year low of $6.36 and a one year high of $25.00. The firm’s 50 day moving average price is $13.68 and its 200 day moving average price is $14.28. The company’s market capitalization is $438.94 million.
A number of research firms have recently issued reports on XBIT. Zacks Investment Research downgraded shares of XBiotech from a “hold” rating to a “sell” rating in a report on Saturday, August 20th. Noble Financial restated a “buy” rating and set a $30.00 target price (up from $24.00) on shares of XBiotech in a report on Tuesday, June 28th.
XBiotech Inc is a clinical-stage biopharmaceutical company. The Company is engaged in discovering and developing True Human monoclonal antibodies for treating a range of diseases. The Company focuses on bringing its lead product candidate, Xilonix (MABp1), to market. The Company has also developed a True Human monoclonal antibody discovery platform and manufacturing system.