HC Wainwright reaffirmed their buy rating on shares of IO Biotech (NASDAQ:IOBT - Free Report) in a research report released on Tuesday morning,Benzinga reports. They currently have a $12.00 target price on the stock.
Several other equities analysts have also issued reports on IOBT. Piper Sandler restated an "overweight" rating and set a $10.00 target price on shares of IO Biotech in a research report on Tuesday, September 3rd. Morgan Stanley boosted their target price on IO Biotech from $4.00 to $6.00 and gave the stock an "overweight" rating in a research report on Monday, September 16th.
Check Out Our Latest Report on IOBT
IO Biotech Stock Performance
NASDAQ:IOBT traded down $0.12 on Tuesday, hitting $0.93. 497,637 shares of the stock were exchanged, compared to its average volume of 228,006. The stock has a market capitalization of $61.10 million, a price-to-earnings ratio of -0.64 and a beta of 0.42. IO Biotech has a 52 week low of $0.73 and a 52 week high of $2.10. The company's 50-day moving average price is $1.09 and its 200 day moving average price is $1.26.
IO Biotech (NASDAQ:IOBT - Get Free Report) last posted its 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. As a group, equities research analysts predict that IO Biotech will post -1.18 earnings per share for the current year.
Hedge Funds Weigh In On IO Biotech
An institutional investor recently raised its position in IO Biotech stock. Renaissance Technologies LLC lifted its stake in shares of IO Biotech, Inc. (NASDAQ:IOBT - Free Report) by 8.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 180,800 shares of the company's stock after purchasing an additional 13,600 shares during the period. Renaissance Technologies LLC owned 0.27% of IO Biotech worth $212,000 at the end of the most recent quarter. 54.76% of the stock is owned by hedge funds and other institutional investors.
IO Biotech Company Profile
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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.
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