HC Wainwright reiterated their buy rating on shares of IO Biotech (NASDAQ:IOBT – Free Report) in a report issued on Monday morning, Benzinga reports. They currently have a $12.00 price target on the stock.
IOBT has been the topic of several other research reports. Morgan Stanley raised their target price on shares of IO Biotech from $4.00 to $6.00 and gave the company an overweight rating in a research note on Monday. Piper Sandler reiterated an overweight rating and set a $10.00 price objective on shares of IO Biotech in a research note on Tuesday, September 3rd.
Get Our Latest Analysis on IO Biotech
IO Biotech Price Performance
IO Biotech (NASDAQ:IOBT – Get Free Report) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.04. On average, equities analysts anticipate that IO Biotech will post -1.2 EPS for the current fiscal year.
Insider Buying and Selling
In other IO Biotech news, major shareholder Holdings A/S Novo sold 51,522 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $1.33, for a total value of $68,524.26. Following the completion of the sale, the insider now directly owns 4,377,927 shares of the company’s stock, valued at approximately $5,822,642.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On IO Biotech
A number of institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd grew its holdings in shares of IO Biotech by 67.4% in the 2nd quarter. XTX Topco Ltd now owns 26,555 shares of the company’s stock worth $31,000 after acquiring an additional 10,688 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of IO Biotech by 8.1% in the 2nd quarter. Renaissance Technologies LLC now owns 180,800 shares of the company’s stock valued at $212,000 after purchasing an additional 13,600 shares during the period. Finally, PFM Health Sciences LP increased its stake in IO Biotech by 73.0% in the 4th quarter. PFM Health Sciences LP now owns 2,341,107 shares of the company’s stock worth $4,401,000 after purchasing an additional 987,654 shares in the last quarter. Institutional investors and hedge funds own 54.76% of the company’s stock.
About IO Biotech
IO Biotech, Inc, a clinical-stage biopharmaceutical company, develops immune-modulating therapeutic cancer vaccines based on the T-win technology platform. The company's lead product candidate, IO102-IO103, which is designed to target immunosuppressive mechanisms mediated by Indoleamine 2,3-dehydrogenase (IDO), and programmed death-ligand (PD-L1) that is in phase 3 clinical trial to treat melanoma, as well as in phase 2 clinical trial to treat lung, head and neck, bladder, and melanoma cancer.
Recommended Stories
- Five stocks we like better than IO Biotech
- How to Choose Top Rated Stocks
- How Much Can You Make in Stocks in One Month?
- Want to Profit on the Downtrend? Downtrends, Explained.
- This Is the Top Large-Cap Stock Insiders Are Buying
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
- Capitalize on Micron’s 24% Drop—Wall Street Eyes Major Upside
Receive News & Ratings for IO Biotech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IO Biotech and related companies with MarketBeat.com's FREE daily email newsletter.