Xilio Therapeutics (NASDAQ:XLO) Shares Down 12.3% – What’s Next?

Xilio Therapeutics, Inc. (NASDAQ:XLO) shares were down 12.3% during trading on Friday . The stock traded as low as $0.92 and last traded at $0.93. Approximately 3,402,375 shares were traded during trading, a decline of 48% from the average daily volume of 6,502,162 shares. The stock had previously closed at $1.06.

Wall Street Analysts Forecast Growth

Separately, Raymond James decreased their price objective on Xilio Therapeutics from $6.00 to $4.00 and set an “outperform” rating for the company in a report on Friday, November 8th.

Xilio Therapeutics Stock Performance

The company has a market capitalization of $40.88 million, a PE ratio of -0.54 and a beta of -0.30. The company’s 50-day simple moving average is $0.98 and its 200-day simple moving average is $0.94.

Hedge Funds Weigh In On Xilio Therapeutics

Several institutional investors have recently bought and sold shares of XLO. Gilead Sciences Inc. acquired a new position in shares of Xilio Therapeutics during the fourth quarter worth about $8,696,000. Takeda Pharmaceutical Co. Ltd. purchased a new position in shares of Xilio Therapeutics during the 4th quarter worth approximately $1,416,000. Geode Capital Management LLC lifted its holdings in shares of Xilio Therapeutics by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 358,422 shares of the company’s stock valued at $342,000 after buying an additional 20,230 shares during the period. Balyasny Asset Management L.P. boosted its stake in shares of Xilio Therapeutics by 26.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 343,230 shares of the company’s stock valued at $328,000 after buying an additional 70,744 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Xilio Therapeutics by 11.4% during the fourth quarter. Renaissance Technologies LLC now owns 296,617 shares of the company’s stock worth $283,000 after acquiring an additional 30,317 shares during the period. 54.29% of the stock is owned by institutional investors and hedge funds.

About Xilio Therapeutics

Xilio Therapeutics, Inc, a clinical-stage biotechnology company, engages in the discovery and development of tumor-activated immuno-oncology therapies. The company’s checkpoint inhibitor program includes XTX101, an investigational Fc-enhanced, tumor-activated anti-CTLA-4 mAb that is in Phase 2 clinical trial for patients with advanced solid tumors.