Xilio Therapeutics (NASDAQ:XLO) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

Xilio Therapeutics, Inc. (NASDAQ:XLO)’s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $8.50 and traded as low as $8.40. Xilio Therapeutics shares last traded at $8.47, with a volume of 3,529 shares.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Zacks Research raised Xilio Therapeutics to a “hold” rating in a report on Thursday, October 22nd. Raymond James Financial assumed coverage on Xilio Therapeutics in a report on Wednesday, October 21st. They issued an “outperform” rating and a $16.00 price objective on the stock. Finally, Weiss Ratings upgraded Xilio Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, November 4th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.00.

Xilio Therapeutics Stock Performance

The company’s 50-day moving average price is $8.71 and its 200 day moving average price is $8.50. The stock has a market cap of $56.62 million, a PE ratio of -20.05 and a beta of -0.13.

Xilio Therapeutics (NASDAQ:XLO) last released its quarterly earnings results on Tuesday, November 10th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.64. Xilio Therapeutics had a negative return on equity of 60.54% and a negative net margin of 20.89%. The business had revenue of $9.98 million during the quarter, compared to analysts’ expectations of $4.92 million. As a group, equities research analysts predict that Xilio Therapeutics, Inc. will post -3.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Xilio Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Stonepine Capital Management LLC grew its holdings in shares of Xilio Therapeutics by 252.2% in the second quarter. Stonepine Capital Management LLC now owns 225,994 shares of the company’s stock valued at $2,165,023 after purchasing an additional 161,832 shares in the last quarter. State Street Corp purchased a new stake in shares of Xilio Therapeutics during the 2nd quarter worth $128,000. Finally, BlackRock Inc. purchased a new position in shares of Xilio Therapeutics in the 2nd quarter valued at about $84,000. 54.29% of the stock is currently owned by hedge funds and other institutional investors.

Xilio Therapeutics Company Profile

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 powerful immune-modulating medicines inactive in healthy tissue and activate them preferentially within the tumor microenvironment, with the goal of improving antitumor activity while reducing systemic side effects. Xilio’s research and development programs have included engineered cytokines and immune checkpoint therapies, including tumor-activated versions of interleukin-2, interleukin-12 and CTLA-4-directed treatments.