Neoleukin Therapeutics (NASDAQ:NLTX) Shares Up 4.8% – Here’s What Happened

Neoleukin Therapeutics, Inc. (NASDAQ:NLTX) shot up 4.8% during mid-day trading on Tuesday . The company traded as high as $19.11 and last traded at $18.49. 90,936 shares changed hands during mid-day trading, an increase of 81% from the average session volume of 50,104 shares. The stock had previously closed at $17.64.

Neoleukin Therapeutics Stock Up 2.2%

The firm has a 50-day simple moving average of $18.56 and a 200 day simple moving average of $21.37. The company has a market cap of $177.62 million, a price-to-earnings ratio of -6.08 and a beta of 1.11.

Neoleukin Therapeutics Company Profile

Neoleukin Therapeutics, Inc is a clinical?stage biotechnology company focused on the design and development of de novo protein therapeutics for the treatment of cancer and immune?mediated diseases. Leveraging computational protein engineering, the company creates novel cytokine mimetics intended to provide targeted immune activation while minimizing the toxicities associated with natural cytokines. This platform is anchored by proprietary algorithms and structure?based design tools that enable the rapid generation of therapeutic candidates with optimized stability, affinity and specificity.

The company’s lead candidate, NL-201, is a next?generation cytokine therapy designed to engage interleukin?2 and interleukin?15 receptors on immune effector cells, with the goal of enhancing anti?tumor responses.