Xilio Therapeutics (NASDAQ:XLO) Stock Bumped Up to Hold by Zacks Research

Xilio Therapeutics (NASDAQ:XLO) was upgraded by Zacks Research to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks reports.

A number of other research firms have also recently weighed in on XLO. Weiss Ratings cut shares of Xilio Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday. Raymond James Financial assumed coverage on Xilio Therapeutics in a 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $16.00.

Xilio Therapeutics Price Performance

NASDAQ:XLO opened at $7.57 on Thursday. The firm has a market capitalization of $49.81 million, a price-to-earnings ratio of -4.61 and a beta of -0.15. The business has a 50 day simple moving average of $8.96 and a 200-day simple moving average of $8.73. Xilio Therapeutics has a 1 year low of $6.47 and a 1 year high of $12.58.

Xilio Therapeutics (NASDAQ:XLO) last released its earnings results on Thursday, August 13th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.26. The firm had revenue of $18.69 million for the quarter, compared to the consensus estimate of $12.72 million. Xilio Therapeutics had a negative return on equity of 71.99% and a negative net margin of 34.06%. As a group, analysts expect that Xilio Therapeutics will post -3.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Xilio Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Xilio Therapeutics in the second quarter valued at about $84,000. State Street Corp bought a new position in Xilio Therapeutics in the second quarter worth about $128,000. Finally, Stonepine Capital Management LLC lifted 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 valued at $2,165,023 after buying an additional 161,832 shares during the last quarter. 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.