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

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

Analyst Upgrades and Downgrades

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

Xilio Therapeutics Stock Down 12.3 %

The company has a 50-day simple moving average of $0.98 and a two-hundred day simple moving average of $0.94. The firm has a market cap of $40.88 million, a PE ratio of -0.54 and a beta of -0.30.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of XLO. Gilead Sciences Inc. purchased a new position in Xilio Therapeutics in the fourth quarter worth $8,696,000. Takeda Pharmaceutical Co. Ltd. purchased a new position in shares of Xilio Therapeutics during the 4th quarter valued at $1,416,000. Trustees of Columbia University in the City of New York purchased a new position in shares of Xilio Therapeutics during the 4th quarter valued at $238,000. Geode Capital Management LLC lifted its position in shares of Xilio Therapeutics by 85.0% during the 3rd quarter. Geode Capital Management LLC now owns 338,192 shares of the company’s stock valued at $266,000 after buying an additional 155,337 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in shares of Xilio Therapeutics by 26.0% during 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 during the last quarter. Hedge funds and other institutional investors 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.