Xilio Therapeutics (NASDAQ:XLO) Stock Price Down 1.2% – Here’s Why

Xilio Therapeutics, Inc. (NASDAQ:XLO) was down 1.2% during trading on Tuesday. The stock traded as low as $8.81 and last traded at $9.00. Approximately 6,197 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 9,712 shares. The stock had previously closed at $9.11.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Xilio Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Xilio Therapeutics Stock Performance

The company has a market cap of $59.29 million, a PE ratio of -5.49 and a beta of -0.15. The firm’s 50 day moving average is $9.08 and its 200-day moving average is $8.71.

Xilio Therapeutics (NASDAQ:XLO) last issued its earnings results on Thursday, August 13th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.26. Xilio Therapeutics had a negative return on equity of 71.99% and a negative net margin of 34.06%.The business had revenue of $18.69 million for the quarter, compared to analysts’ expectations of $12.72 million.

Institutional Trading of Xilio Therapeutics

Several large investors have recently added to or reduced their stakes in XLO. BlackRock Inc. purchased a new position in Xilio Therapeutics during the second quarter worth about $84,000. State Street Corp purchased a new stake in shares of Xilio Therapeutics in the 2nd quarter valued at approximately $128,000. Stonepine Capital Management LLC increased its holdings in shares of Xilio Therapeutics by 252.2% during the 2nd quarter. Stonepine Capital Management LLC now owns 225,994 shares of the company’s stock worth $2,165,023 after buying an additional 161,832 shares during the last quarter. Empery Asset Management LP acquired a new stake in shares of Xilio Therapeutics during the 4th quarter worth approximately $757,000. Finally, Frazier Life Sciences Management L.P. purchased a new stake in shares of Xilio Therapeutics during the 4th quarter valued at approximately $3,787,000. 54.29% of the stock is currently owned by hedge funds and other institutional investors.

About Xilio Therapeutics

Xilio Therapeutics, Inc is a clinical-stage biotechnology company focused on developing tumor-activated immunotherapies for cancer. The company’s technology is designed to keep therapeutic agents inactive in healthy tissue and activate them within the tumor microenvironment, with the goal of improving treatment effectiveness while reducing systemic side effects.

Xilio’s development programs have included tumor-activated cytokines and other immune-modulating therapies, including XTX202, an investigational tumor-activated interleukin-2 program, and XTX301, an investigational tumor-activated interleukin-12 program.