Short Interest in Xilio Therapeutics, Inc. (NASDAQ:XLO) Expands By 58.8%

Key Points

• Short interest surged 58.8% to 425,882 shares as of July 31, representing 7.0% of Xilio Therapeutics’ shares and 12.3 days to cover based on average trading volume.
• Xilio shares opened at $9.49, up 3.5%, while the company reported a quarterly loss of $0.33 per share—better than the $0.59 analyst estimate—and revenue of $18.69 million versus expectations of $12.72 million.
• Institutional investors own 54.29% of the stock, but analyst sentiment remains negative: MarketBeat reports a consensus “Sell” rating, including recent downgrades from Weiss Ratings and Wall Street Zen.

Xilio Therapeutics, Inc. (NASDAQ:XLO - Get Free Report) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totaling 425,882 shares, a growth of 58.8% from the July 15th total of 268,180 shares. Based on an average trading volume of 34,680 shares, the days-to-cover ratio is currently 12.3 days. Currently, 7.0% of the shares of the stock are short sold.

Xilio Therapeutics Stock Up 3.5%

Shares of NASDAQ:XLO opened at $9.49 on Tuesday. The company has a market capitalization of $62.44 million, a P/E ratio of -5.78 and a beta of -0.14. Xilio Therapeutics has a 52-week low of $6.47 and a 52-week high of $12.74. The stock's fifty day simple moving average is $8.94 and its 200-day simple moving average is $8.37.

Xilio Therapeutics (NASDAQ:XLO - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.33) EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $18.69 million during the quarter, compared to analysts' expectations of $12.72 million.

Institutional Investors Weigh In On Xilio Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Frazier Life Sciences Management L.P. acquired a new position in shares of Xilio Therapeutics in the fourth quarter valued at approximately $3,787,000. Bain Capital Life Sciences Investors LLC boosted its position in Xilio Therapeutics by 61.4% during the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 7,372,686 shares of the company's stock worth $4,720,000 after acquiring an additional 2,805,869 shares during the last quarter. Empery Asset Management LP acquired a new stake in Xilio Therapeutics during the fourth quarter worth approximately $757,000. Ghisallo Capital Management LLC purchased a new stake in Xilio Therapeutics in the 4th quarter worth approximately $713,000. Finally, Velan Capital Investment Management LP purchased a new stake in Xilio Therapeutics in the 4th quarter worth approximately $109,000. 54.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

XLO has been the topic of several recent research reports. Weiss Ratings downgraded shares of Xilio Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, August 6th. Wall Street Zen cut shares of Xilio Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Sell".

Xilio Therapeutics Company Profile

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source