Xilio Therapeutics (NASDAQ:XLO – Get Rating) had its target price reduced by investment analysts at Morgan Stanley from $20.00 to $10.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's price target points to a potential upside of 133.64% from the company's previous close.

Several other research firms have also issued reports on XLO. Chardan Capital started coverage on shares of Xilio Therapeutics in a research note on Wednesday, December 21st. They issued a "buy" rating and a $7.00 target price for the company. Raymond James reduced their target price on shares of Xilio Therapeutics from $31.00 to $13.00 and set an "outperform" rating for the company in a research note on Thursday, November 10th. Finally, Guggenheim reduced their target price on shares of Xilio Therapeutics to $15.00 in a research note on Tuesday, November 15th.

Xilio Therapeutics Stock Performance

XLO opened at $4.28 on Friday. The company has a current ratio of 8.45, a quick ratio of 8.45 and a debt-to-equity ratio of 0.04. The company's fifty day moving average price is $2.62 and its two-hundred day moving average price is $2.61. Xilio Therapeutics has a 1-year low of $1.95 and a 1-year high of $14.86. The company has a market cap of $117.57 million and a price-to-earnings ratio of -1.27.

Hedge Funds Weigh In On Xilio Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in Xilio Therapeutics by 47.7% during the first quarter. Bank of New York Mellon Corp now owns 21,029 shares of the company's stock valued at $149,000 after buying an additional 6,791 shares during the period. Bailard Inc. bought a new position in Xilio Therapeutics during the second quarter valued at about $107,000. Millennium Management LLC bought a new position in Xilio Therapeutics during the second quarter valued at about $146,000. Renaissance Technologies LLC bought a new position in Xilio Therapeutics during the second quarter valued at about $220,000. Finally, State Street Corp grew its position in Xilio Therapeutics by 58.5% during the first quarter. State Street Corp now owns 93,861 shares of the company's stock valued at $664,000 after buying an additional 34,651 shares during the period. Institutional investors own 60.46% of the company's stock.

About Xilio Therapeutics

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Xilio Therapeutics, Inc, a clinical-stage biotechnology company, develops immunotherapies to improve the immune system of cancer patients. Its checkpoint inhibitor program includes XTX101, a clinical-stage, tumor-selective anti-CTLA-4 mAb that is in Phase 1/2 clinical trials in patients with solid tumors.

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