Xilio Therapeutics (NASDAQ:XLO) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Xilio Therapeutics (NASDAQ:XLO) to a hold rating in a report published on Thursday,Zacks reports.

A number of other equities research analysts have also recently commented on XLO. Weiss Ratings cut shares of Xilio Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. Raymond James Financial assumed coverage on shares of Xilio Therapeutics in a research report on Wednesday. They issued an “outperform” rating and a $16.00 price target for the company. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $16.00.

Xilio Therapeutics Stock Down 5.7%

Shares of XLO opened at $7.57 on Thursday. The business has a 50-day simple moving average of $8.96 and a two-hundred day simple moving average of $8.73. Xilio Therapeutics has a 52 week low of $6.47 and a 52 week 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.

Xilio Therapeutics (NASDAQ:XLO) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.26. The firm had revenue of $18.69 million for the quarter, compared to analysts’ expectations of $12.72 million. Xilio Therapeutics had a negative return on equity of 71.99% and a negative net margin of 34.06%. On average, equities analysts anticipate that Xilio Therapeutics will post -3.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Xilio Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp purchased a new position in shares of Xilio Therapeutics in the second quarter worth $128,000. Stonepine Capital Management LLC boosted its position in shares of Xilio Therapeutics by 252.2% during the second quarter. Stonepine Capital Management LLC now owns 225,994 shares of the company’s stock worth $2,165,023 after acquiring an additional 161,832 shares during the last quarter. Finally, BlackRock Inc. purchased a new position in Xilio Therapeutics during the second quarter valued at $84,000. Institutional investors own 54.29% of the company’s stock.

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.