Xilio Therapeutics (NASDAQ:XLO) Now Covered by Analysts at Raymond James Financial

Key Points

• Raymond James initiated coverage of Xilio Therapeutics with an “outperform” rating and a $16 price target, implying approximately 87% upside from the reported $8.54 share price.
• Xilio reported quarterly EPS of $(0.33), beating the consensus estimate of $(0.59), while revenue of $18.69 million exceeded expectations of $12.72 million. Despite the earnings beat, the company had a negative 71.99% return on equity and a negative 34.06% net margin.
• Institutional investors own 54.29% of Xilio’s stock, with Stonepine Capital Management increasing its stake by 252.2% and State Street and BlackRock establishing new positions during the second quarter.

Equities researchers at Raymond James Financial started coverage on shares of Xilio Therapeutics (NASDAQ:XLO - Get Free Report) in a research report issued on Wednesday, Briefing.com reports. The firm set an "outperform" rating and a $16.00 price target on the stock. Raymond James Financial's price objective suggests a potential upside of 87.35% from the company's current price.

Separately, Weiss Ratings upgraded shares of Xilio Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, October 6th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $16.00.

Xilio Therapeutics Stock Up 2.5%

NASDAQ:XLO opened at $8.54 on Wednesday. The stock's 50-day simple moving average is $9.03 and its 200 day simple moving average is $8.74. Xilio Therapeutics has a 52-week low of $6.47 and a 52-week high of $12.58.

Xilio Therapeutics (NASDAQ:XLO - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.26. The firm had revenue of $18.69 million during the quarter, compared to analysts' expectations of $12.72 million. Xilio Therapeutics had a negative return on equity of 71.99% and a negative net margin of 34.06%.

Institutional Trading of Xilio Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of XLO. Stonepine Capital Management LLC boosted its stake 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 acquiring an additional 161,832 shares during the period. State Street Corp acquired a new position in shares of Xilio Therapeutics during the 2nd quarter worth approximately $128,000. Finally, BlackRock Inc. acquired a new position in shares of Xilio Therapeutics during the 2nd quarter worth approximately $84,000. Institutional investors own 54.29% of the company's stock.

Xilio Therapeutics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.