Raymond James Issues Pessimistic Forecast for Xilio Therapeutics (NASDAQ:XLO) Stock Price

Xilio Therapeutics (NASDAQ:XLO) had its price objective lowered by equities researchers at Raymond James from $6.00 to $4.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ target price would indicate a potential upside of 299.52% from the stock’s current price.

Xilio Therapeutics Trading Down 3.7 %

Shares of NASDAQ:XLO traded down $0.04 during trading on Friday, hitting $1.00. 165,439 shares of the company’s stock were exchanged, compared to its average volume of 539,337. The firm has a market cap of $44.00 million, a P/E ratio of -0.47 and a beta of -0.24. The firm has a 50-day moving average price of $0.88 and a two-hundred day moving average price of $0.95. Xilio Therapeutics has a 1-year low of $0.49 and a 1-year high of $1.93.

Xilio Therapeutics (NASDAQ:XLO) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). The company had revenue of $2.36 million during the quarter, compared to analyst estimates of $30.00 million. As a group, research analysts predict that Xilio Therapeutics will post -1.26 EPS for the current year.

Hedge Funds Weigh In On Xilio Therapeutics

An institutional investor recently bought a new position in Xilio Therapeutics stock. XTX Topco Ltd acquired a new stake in shares of Xilio Therapeutics, Inc. (NASDAQ:XLO) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 33,289 shares of the company’s stock, valued at approximately $32,000. XTX Topco Ltd owned approximately 0.08% of Xilio Therapeutics at the end of the most recent reporting period. 54.29% of the stock is currently owned by hedge funds and other institutional investors.

Xilio Therapeutics Company Profile

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.