Xilio Therapeutics (NASDAQ:XLO) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Xilio Therapeutics to “hold.” Analyst sentiment is mixed, with an average “hold” rating and a consensus price target of $16.00; Raymond James assigned an “outperform” rating, while Weiss Ratings maintained a sell-equivalent view.
• XLO shares fell 5.7% to $7.57, near the lower end of their 12-month range of $6.47 to $12.58. The company remains unprofitable, with a negative P/E ratio and analysts forecasting a loss of $3.17 per share for the year.
• Xilio reported a quarterly loss of $0.33 per share, better than the expected $0.59 loss, while revenue of $18.69 million exceeded estimates of $12.72 million. Institutional investors own 54.29% of the stock, and the clinical-stage biotech is developing tumor-activated immunotherapies for cancer.

Xilio Therapeutics (NASDAQ:XLO - Get Free Report) was upgraded by equities researchers at Zacks Research to a "hold" rating in a research note issued to investors on Thursday, Zacks reports.

A number of other research firms have also recently weighed in on XLO. Raymond James Financial assumed coverage on shares of Xilio Therapeutics in a research note on Wednesday. They set an "outperform" rating and a $16.00 target price on the stock. Weiss Ratings lowered Xilio Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $16.00.

Xilio Therapeutics Trading Down 5.7%

NASDAQ XLO opened at $7.57 on Thursday. Xilio Therapeutics has a 12 month low of $6.47 and a 12 month high of $12.58. The stock has a market cap of $49.81 million, a price-to-earnings ratio of -4.61 and a beta of -0.15. The company's 50 day moving average is $8.96 and its two-hundred day moving average is $8.73.

Xilio Therapeutics (NASDAQ:XLO - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.33) earnings per share for the quarter, topping analysts' consensus estimates of ($0.59) by $0.26. The business had revenue of $18.69 million during the quarter, compared to analyst estimates of $12.72 million. Xilio Therapeutics had a negative net margin of 34.06% and a negative return on equity of 71.99%. Sell-side analysts forecast that Xilio Therapeutics will post -3.17 EPS for the current year.

Institutional Investors Weigh In On Xilio Therapeutics

Several large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Xilio Therapeutics during the second quarter valued at $84,000. State Street Corp purchased a new position in shares of Xilio Therapeutics in the 2nd quarter worth $128,000. Finally, Stonepine Capital Management LLC grew its stake in shares of Xilio Therapeutics by 252.2% in 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 in the last quarter. 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.

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