Xilio Therapeutics (NASDAQ:XLO) Shares Down 0.3% – Should You Sell?

Shares of Xilio Therapeutics, Inc. (NASDAQ:XLO) dropped 0.3% during mid-day trading on Wednesday . The stock traded as low as $9.05 and last traded at $9.28. Approximately 65,011 shares were traded during mid-day trading, an increase of 57% from the average session volume of 41,338 shares. The stock had previously closed at $9.31.

Analyst Upgrades and Downgrades

XLO has been the subject of a number of research analyst reports. Wall Street Zen downgraded Xilio Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings cut Xilio Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Xilio Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

Xilio Therapeutics Price Performance

The firm has a market cap of $59.96 million, a PE ratio of -2.57 and a beta of -0.14. The business’s fifty day moving average is $8.48 and its 200-day moving average is $8.41.

Xilio Therapeutics (NASDAQ:XLO) last released its earnings results on Tuesday, May 12th. The company reported ($0.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.08. The firm had revenue of $12.65 million during the quarter, compared to the consensus estimate of $8.52 million. Xilio Therapeutics had a negative net margin of 58.52% and a negative return on equity of 151.42%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in XLO. Jane Street Group LLC bought a new stake in Xilio Therapeutics in the 4th quarter valued at about $27,000. Velan Capital Investment Management LP bought a new position in shares of Xilio Therapeutics in the fourth quarter worth $109,000. State Street Corp raised its holdings in shares of Xilio Therapeutics by 13.7% in the 4th quarter. State Street Corp now owns 186,390 shares of the company’s stock valued at $119,000 after acquiring an additional 22,500 shares in the last quarter. Renaissance Technologies LLC lifted its position in Xilio Therapeutics by 68.3% during the fourth quarter. Renaissance Technologies LLC now owns 344,416 shares of the company’s stock valued at $220,000 after purchasing an additional 139,716 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of Xilio Therapeutics by 39.6% during the 3rd quarter. Squarepoint Ops LLC now owns 328,794 shares of the company’s stock worth $277,000 after acquiring an additional 93,338 shares during the last quarter. Institutional investors own 54.29% of the company’s stock.

About Xilio Therapeutics

Xilio Therapeutics is a clinical?stage biotechnology company focused on the discovery and development of tumor?targeted cytokine therapeutics for the treatment of cancer. The company leverages a proprietary platform to design pro?drug versions of potent immune?modulating cytokines, enabling local activation of immune responses within the tumor microenvironment while limiting systemic exposure and toxicity.

The company’s lead programs utilize engineered interleukin?12 (IL?12) and interleukin?2 (IL?2) molecules fused to tumor?binding antibodies or peptide ligands.