Wells Fargo & Company Cuts iTeos Therapeutics (NASDAQ:ITOS) Price Target to $19.00

iTeos Therapeutics (NASDAQ:ITOS) had its price target decreased by Wells Fargo & Company from $31.00 to $19.00 in a research note published on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other analysts also recently issued research reports about the stock. Wedbush reissued an “outperform” rating and issued a $25.00 price target on shares of iTeos Therapeutics in a research report on Thursday, December 12th. HC Wainwright reiterated a “buy” rating and set a $21.00 price objective on shares of iTeos Therapeutics in a report on Friday, December 13th.

iTeos Therapeutics Trading Up 2.8 %

NASDAQ:ITOS opened at $7.42 on Thursday. The stock has a market capitalization of $271.08 million, a price-to-earnings ratio of -2.36 and a beta of 1.37. The firm has a fifty day simple moving average of $8.54 and a two-hundred day simple moving average of $12.62. iTeos Therapeutics has a 12 month low of $7.09 and a 12 month high of $18.75.

iTeos Therapeutics (NASDAQ:ITOS) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.18) by $0.13. Equities analysts predict that iTeos Therapeutics will post -3.46 earnings per share for the current fiscal year.

Insider Activity at iTeos Therapeutics

In other news, CFO Matthew Gall acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was purchased at an average price of $7.73 per share, for a total transaction of $38,650.00. Following the purchase, the chief financial officer now owns 65,429 shares in the company, valued at approximately $505,766.17. This represents a 8.27 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On iTeos Therapeutics

Several institutional investors have recently modified their holdings of the business. State Street Corp raised its stake in shares of iTeos Therapeutics by 21.9% during the 3rd quarter. State Street Corp now owns 1,175,353 shares of the company’s stock worth $12,000,000 after purchasing an additional 211,452 shares during the period. Dimensional Fund Advisors LP raised its position in iTeos Therapeutics by 14.8% in the second quarter. Dimensional Fund Advisors LP now owns 908,329 shares of the company’s stock worth $13,481,000 after acquiring an additional 117,159 shares during the period. Geode Capital Management LLC boosted its stake in iTeos Therapeutics by 3.2% in the third quarter. Geode Capital Management LLC now owns 640,350 shares of the company’s stock valued at $6,540,000 after acquiring an additional 20,092 shares during the last quarter. Candriam S.C.A. purchased a new position in iTeos Therapeutics in the second quarter valued at about $7,558,000. Finally, Algert Global LLC grew its position in shares of iTeos Therapeutics by 92.0% during the 3rd quarter. Algert Global LLC now owns 256,139 shares of the company’s stock valued at $2,615,000 after acquiring an additional 122,730 shares during the period. 97.16% of the stock is owned by institutional investors.

About iTeos Therapeutics

Iteos Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of immuno-oncology therapeutics for patients with cancer. The company's lead antibody product candidate, belrestotug, an antagonist of TIGIT or T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial, as well as used to engage the Fc gamma receptor, or Fc?R to activate dendritic cells, natural killer cells, and macrophages and to promote antibody-dependent cellular cytotoxicity, or ADCC activity.