XLO - Xilio Therapeutics sinks to a post IPO low after losing more than a fifth

Extending the three consecutive sessions of losses, the shares of Xilio Therapeutics (XLO -24.0%) have recorded the biggest one-day loss to reach their lowest level since the company IPO last month. The clinical-stage oncology company sought $75.6M in gross proceeds with its IPO for 5.4M shares of common stock priced at $14.00 apiece. However, the stock slipped on trading debut while Seeking Alpha contributor, Avisol Capital Partners, posted a Neutral thesis on the stock. Other notable decliners among recently IPO’ed healthcare firms include Vaxxinity (VAXX -25.7%), MiNK Therapeutics (INKT -30.4%), and Aura Biosciences (AURA -20.9%) all of which had outperformed the broader market in the past three-week period, as shown in the graph below.

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Xilio Therapeutics sinks to a post IPO low after losing more than a fifth