Xilio Therapeutics (NASDAQ:XLO) Stock Falls 1.2% - Here's What Happened

Key Points

• Xilio Therapeutics shares fell 1.2% to $9.00 in midday trading, while volume dropped 36% below the stock’s average daily level.
• Weiss Ratings downgraded Xilio from “sell (d-)” to “sell (e+),” and MarketBeat data shows the stock has an average analyst rating of “Sell.”
• Institutional ownership stands at 54.29%, with Stonepine Capital expanding its position by 252.2%; the company recently reported better-than-expected quarterly results, including an EPS loss of $0.33 versus the $0.59 estimate.

Xilio Therapeutics, Inc. (NASDAQ:XLO - Get Free Report) shares traded down 1.2% on Tuesday. The stock traded as low as $8.81 and last traded at $9.00. 6,197 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 9,712 shares. The stock had previously closed at $9.11.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Xilio Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, September 18th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Xilio Therapeutics has an average rating of "Sell".

Xilio Therapeutics Trading Down 1.2%

The company has a market cap of $59.22 million, a price-to-earnings ratio of -5.49 and a beta of -0.15. The firm has a 50-day moving average price of $9.08 and a 200 day moving average price of $8.69.

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 (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.26. Xilio Therapeutics had a negative return on equity of 71.99% and a negative net margin of 34.06%.The business had revenue of $18.69 million for the quarter, compared to analyst estimates of $12.72 million.

Institutional Trading of Xilio Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of XLO. BlackRock Inc. bought a new position in shares of Xilio Therapeutics in the 2nd quarter worth about $84,000. State Street Corp bought a new stake in shares of Xilio Therapeutics during the 2nd quarter valued at about $128,000. Stonepine Capital Management LLC grew its position 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 valued at $2,165,023 after buying an additional 161,832 shares during the last quarter. Empery Asset Management LP acquired a new stake in Xilio Therapeutics during the fourth quarter worth about $757,000. Finally, Frazier Life Sciences Management L.P. acquired a new stake in Xilio Therapeutics during the fourth quarter worth about $3,787,000. 54.29% of the stock is owned by institutional investors and hedge funds.

About Xilio Therapeutics

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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