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XBIT - XBiotech Is Trading Below Its $30 Offer Price For Good Reason But It Still Could Rise
XBiotech Inc.
On Tuesday, XBiotech Inc. (XBIT) rose 31% to $24.33 after the company announced that it intends to proceed with a partial tender offer of its shares in the $30 to $33 range for $420 million. It followed that up with another green day on Wednesday to close at $24.94, which is still a 20% discount to the minimum proposed bid price. The smart people who made most of the money on XBIT were those who bought and held the stock immediately after the Janssen deal was announced in December when the company disclosed