Equities researchers at Raymond James Financial initiated coverage on shares of Xilio Therapeutics (NASDAQ:XLO – Get Free Report) in a research report issued on Wednesday, Briefing.com reports. The firm set an “outperform” rating and a $16.00 price target on the stock. Raymond James Financial’s price target points to a potential upside of 87.35% from the company’s previous close.
Separately, Weiss Ratings raised Xilio Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.00.
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Xilio Therapeutics Trading Up 2.5%
Shares of XLO opened at $8.54 on Wednesday. Xilio Therapeutics has a 52 week low of $6.47 and a 52 week high of $12.58. The firm’s 50-day simple moving average is $9.03 and its 200 day simple moving average is $8.74.
Xilio Therapeutics (NASDAQ:XLO – Get Free Report) last released its quarterly 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 analysts’ expectations of $12.72 million. Xilio Therapeutics had a negative net margin of 34.06% and a negative return on equity of 71.99%.
Institutional Investors Weigh In On Xilio Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Xilio Therapeutics in the second quarter valued at about $84,000. State Street Corp acquired a new position in shares of Xilio Therapeutics in the second quarter valued at about $128,000. Finally, Stonepine Capital Management LLC grew its stake 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 acquiring an additional 161,832 shares in the last quarter. Institutional investors and hedge funds 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.
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