Neoleukin Therapeutics (NASDAQ:NLTX) Stock Price Down 3.9% – Here’s What Happened

Neoleukin Therapeutics, Inc. (NASDAQ:NLTX)’s share price dropped 3.9% during trading on Wednesday . The company traded as low as $26.3653 and last traded at $26.88. Approximately 150,058 shares traded hands during mid-day trading, an increase of 199% from the average daily volume of 50,104 shares. The stock had previously closed at $27.98.

Neoleukin Therapeutics Trading Up 2.4%

The firm’s 50-day simple moving average is $24.47 and its two-hundred day simple moving average is $21.95. The stock has a market capitalization of $259.48 million, a PE ratio of -8.88 and a beta of 1.11.

About Neoleukin Therapeutics

Neoleukin Therapeutics, Inc is a clinical‐stage biotechnology company focused on the design and development of de novo protein therapeutics for the treatment of cancer and immune‐mediated diseases. Leveraging computational protein engineering, the company creates novel cytokine mimetics intended to provide targeted immune activation while minimizing the toxicities associated with natural cytokines. This platform is anchored by proprietary algorithms and structure‐based design tools that enable the rapid generation of therapeutic candidates with optimized stability, affinity and specificity.

The company’s lead candidate, NL-201, is a next‐generation cytokine therapy designed to engage interleukin‐2 and interleukin‐15 receptors on immune effector cells, with the goal of enhancing anti‐tumor responses.