Neoleukin Therapeutics (NASDAQ:NLTX) Trading Down 5.6% - Here's Why

Key Points

• Neoleukin Therapeutics' stock fell by 5.6%, dropping to $19.22 after a recent closing price of $20.35.
• The trading volume significantly increased, with approximately 152,690 shares changing hands, marking a 205% rise compared to the average daily volume.
• Neoleukin Therapeutics focuses on developing immunotherapies for cancer and autoimmune disorders, with its lead candidate NL-201 targeting various cancer types.

Neoleukin Therapeutics, Inc. (NASDAQ:NLTX - Get Free Report)'s stock price fell 5.6% during trading on Wednesday . The company traded as low as $18.94 and last traded at $19.22. 152,690 shares changed hands during mid-day trading, an increase of 205% from the average session volume of 50,104 shares. The stock had previously closed at $20.35.

Neoleukin Therapeutics Price Performance

The firm's 50 day moving average price is $20.39 and its two-hundred day moving average price is $17.27. The firm has a market cap of $192.75 million, a price-to-earnings ratio of -6.59 and a beta of 1.11.

About Neoleukin Therapeutics

Neoleukin Therapeutics, Inc, a biopharmaceutical company, develops immunotherapies for cancer, inflammation, and autoimmunity disorders using protein design technology. The company's lead product candidate is NL-201, a de novo protein designed to mimic the therapeutic activity of the cytokines interleukin (IL)-2/IL-15 for the treatment of various types of cancer, including renal cell carcinoma and melanoma.