Xilio Therapeutics (NASDAQ:XLO) Stock Rated Outperform in New Coverage at Raymond James Financial

Raymond James Financial began coverage on shares of Xilio Therapeutics (NASDAQ:XLO) in a report issued on Wednesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $16.00 price objective on the stock.

Separately, Weiss Ratings raised Xilio Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 6th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.00.

Xilio Therapeutics Stock Down 5.7%

Shares of Xilio Therapeutics stock opened at $7.57 on Wednesday. The stock’s 50-day simple moving average is $8.96 and its 200-day simple moving average is $8.73. Xilio Therapeutics has a 52 week low of $6.47 and a 52 week high of $12.58. The company has a market capitalization of $49.81 million, a price-to-earnings ratio of -4.61 and a beta of -0.15.

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

Hedge Funds Weigh In On Xilio Therapeutics

Institutional investors have recently bought and sold shares of the stock. Stonepine Capital Management LLC lifted its stake in Xilio Therapeutics by 252.2% in the 2nd quarter. Stonepine Capital Management LLC now owns 225,994 shares of the company’s stock worth $2,165,023 after purchasing an additional 161,832 shares in the last quarter. State Street Corp bought a new position in shares of Xilio Therapeutics during the 2nd quarter valued at about $128,000. Finally, BlackRock Inc. bought a new position in shares of Xilio Therapeutics during the 2nd quarter valued at about $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 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.