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

Xilio Therapeutics, Inc. (NASDAQ:XLO)’s stock price passed 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 changing hands.

Wall Street Analyst Weigh In

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

Xilio Therapeutics Trading Down 0.7%

The business’s 50 day simple moving average is $8.74 and its 200 day simple moving average is $8.50. The firm has a market capitalization of $55.73 million, a PE ratio of -21.17 and a beta of -0.13.

Xilio Therapeutics (NASDAQ:XLO) last announced its earnings results on Tuesday, November 10th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.94) by $0.64. The firm had revenue of $9.98 million for the quarter, compared to analysts’ expectations of $4.92 million. Xilio Therapeutics had a negative net margin of 20.89% and a negative return on equity of 62.61%. Analysts forecast that Xilio Therapeutics, Inc. will post -3.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of XLO. State Street Corp purchased a new position in shares of Xilio Therapeutics during the second quarter valued at $128,000. Stonepine Capital Management LLC lifted its holdings in 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 buying an additional 161,832 shares during the period. Finally, BlackRock Inc. purchased a new position in shares of Xilio Therapeutics in the 2nd quarter valued at $84,000. 54.29% of the stock is owned by hedge funds and other institutional investors.

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 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.