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

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

Analyst Upgrades and Downgrades

Separately, Raymond James lowered their price target on shares of 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 Price Performance

The company has a market capitalization of $40.88 million, a price-to-earnings ratio of -0.54 and a beta of -0.30. The stock has a 50 day simple moving average of $0.98 and a two-hundred day simple moving average of $0.94.

Institutional Investors Weigh In On Xilio Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Trustees of Columbia University in the City of New York acquired a new position in Xilio Therapeutics in the fourth quarter valued at approximately $238,000. Balyasny Asset Management L.P. boosted its holdings in shares of Xilio Therapeutics by 26.0% in the 4th 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. Aptus Capital Advisors LLC purchased a new position in shares of Xilio Therapeutics in the 4th quarter valued at $39,000. Gilead Sciences Inc. acquired a new stake in Xilio Therapeutics during the 4th quarter worth $8,696,000. Finally, Raymond James Financial Inc. acquired a new stake in Xilio Therapeutics during the 4th quarter worth $48,000. Institutional investors and hedge funds own 54.29% of the company’s stock.

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.