iTeos Therapeutics’ (ITOS) “Outperform” Rating Reaffirmed at Wedbush

iTeos Therapeutics (NASDAQ:ITOS)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a report released on Friday,RTT News reports. They presently have a $25.00 target price on the stock. Wedbush’s price objective would suggest a potential upside of 222.16% from the company’s current price.

Several other brokerages have also recently weighed in on ITOS. Wells Fargo & Company dropped their price target on shares of iTeos Therapeutics from $31.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. HC Wainwright restated a “buy” rating and issued a $21.00 price target on shares of iTeos Therapeutics in a research report on Friday, December 13th.

iTeos Therapeutics Stock Down 0.6 %

Shares of NASDAQ ITOS traded down $0.05 on Friday, reaching $7.76. 409,316 shares of the company’s stock traded hands, compared to its average volume of 328,003. The business’s 50 day simple moving average is $8.13 and its two-hundred day simple moving average is $11.78. iTeos Therapeutics has a 12 month low of $7.09 and a 12 month high of $18.75. The company has a market cap of $283.50 million, a price-to-earnings ratio of -2.46 and a beta of 1.39.

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

Insider Activity

In related news, CFO Matthew Gall acquired 5,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was bought at an average cost of $7.73 per share, with a total value of $38,650.00. Following the transaction, the chief financial officer now directly owns 65,429 shares in the company, valued at approximately $505,766.17. This represents a 8.27 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Clearline Capital LP purchased a new stake in iTeos Therapeutics in the second quarter valued at about $2,328,000. Algert Global LLC increased its holdings in shares of iTeos Therapeutics by 92.0% during the third 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 in the last quarter. State Street Corp raised its position in shares of iTeos Therapeutics by 21.9% in the 3rd quarter. State Street Corp now owns 1,175,353 shares of the company’s stock valued at $12,000,000 after purchasing an additional 211,452 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in iTeos Therapeutics by 14.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 908,329 shares of the company’s stock worth $13,481,000 after purchasing an additional 117,159 shares in the last quarter. Finally, Readystate Asset Management LP grew its position in iTeos Therapeutics by 97.2% during the 3rd quarter. Readystate Asset Management LP now owns 169,819 shares of the company’s stock worth $1,734,000 after purchasing an additional 83,700 shares during the last quarter. Hedge funds and other institutional investors own 97.16% of the company’s stock.

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.