Neoleukin Therapeutics (NASDAQ:NLTX) Stock Price Down 2.3% – Here’s Why

Shares of Neoleukin Therapeutics, Inc. (NASDAQ:NLTX) dropped 2.3% on Wednesday . The stock traded as low as $20.3684 and last traded at $21.08. Approximately 112,087 shares traded hands during mid-day trading, an increase of 124% from the average daily volume of 50,104 shares. The stock had previously closed at $21.57.

Neoleukin Therapeutics Trading Down 2.3%

The stock has a market capitalization of $198.11 million, a PE ratio of -6.78 and a beta of 1.11. The firm has a 50-day moving average price of $19.12 and a 200-day moving average price of $21.58.

About Neoleukin Therapeutics

Neoleukin Therapeutics, Inc is a clinical‐stage biotechnology company focused on the design and development of de novo protein therapeutics for the treatment of cancer and immune‐mediated diseases. Leveraging computational protein engineering, the company creates novel cytokine mimetics intended to provide targeted immune activation while minimizing the toxicities associated with natural cytokines. This platform is anchored by proprietary algorithms and structure‐based design tools that enable the rapid generation of therapeutic candidates with optimized stability, affinity and specificity.

The company’s lead candidate, NL-201, is a next‐generation cytokine therapy designed to engage interleukin‐2 and interleukin‐15 receptors on immune effector cells, with the goal of enhancing anti‐tumor responses.