HC Wainwright reaffirmed their buy rating on shares of IO Biotech (NASDAQ:IOBT - Free Report) in a report issued on Wednesday,Benzinga reports. The firm currently has a $12.00 price target on the stock.
IO Biotech Stock Down 1.9 %
Shares of NASDAQ IOBT traded down $0.02 on Wednesday, hitting $0.90. The company had a trading volume of 95,453 shares, compared to its average volume of 137,209. The firm has a market capitalization of $59.29 million, a P/E ratio of -0.66 and a beta of 0.22. IO Biotech has a 12-month low of $0.66 and a 12-month high of $1.85. The business has a 50 day moving average of $0.92 and a two-hundred day moving average of $1.00.
Institutional Trading of IO Biotech
Hedge funds have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. acquired a new position in shares of IO Biotech in the 4th quarter worth $30,000. Landscape Capital Management L.L.C. acquired a new stake in shares of IO Biotech in the fourth quarter worth about $407,000. Renaissance Technologies LLC lifted its position in shares of IO Biotech by 22.5% during the 4th quarter. Renaissance Technologies LLC now owns 118,800 shares of the company's stock worth $109,000 after purchasing an additional 21,800 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of IO Biotech during the 4th quarter worth about $26,000. Finally, Dauntless Investment Group LLC acquired a new position in shares of IO Biotech during the 4th quarter worth about $688,000. Institutional investors own 54.76% of the company's stock.
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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