IO Biotech, Inc. (NASDAQ:IOBT) Short Interest Up 210.5% in December

IO Biotech, Inc. (NASDAQ:IOBT - Get Free Report) saw a large growth in short interest in December. As of December 15th, there was short interest totalling 144,400 shares, a growth of 210.5% from the November 30th total of 46,500 shares. Based on an average daily volume of 349,900 shares, the short-interest ratio is presently 0.4 days. Currently, 0.3% of the company's stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its position in IO Biotech stock. XTX Topco Ltd lifted its position in shares of IO Biotech, Inc. (NASDAQ:IOBT - Free Report) by 67.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 26,555 shares of the company's stock after purchasing an additional 10,688 shares during the quarter. XTX Topco Ltd's holdings in IO Biotech were worth $31,000 as of its most recent filing with the SEC. 54.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on IOBT shares. Morgan Stanley upped their price objective on IO Biotech from $4.00 to $6.00 and gave the stock an "overweight" rating in a research report on Monday, September 16th. Piper Sandler reiterated an "overweight" rating and issued a $10.00 price target on shares of IO Biotech in a research note on Tuesday, September 3rd. Finally, HC Wainwright restated a "buy" rating and set a $12.00 price target on shares of IO Biotech in a research note on Tuesday, November 12th.

IO Biotech Trading Up 3.3 %

Shares of IOBT stock traded up $0.03 during mid-day trading on Thursday, reaching $0.94. The stock had a trading volume of 292,860 shares, compared to its average volume of 263,702. IO Biotech has a 12-month low of $0.66 and a 12-month high of $2.10. The business has a 50-day simple moving average of $0.97 and a 200 day simple moving average of $1.14. The company has a market cap of $61.93 million, a P/E ratio of -0.69 and a beta of 0.27.

IO Biotech (NASDAQ:IOBT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.07). Research analysts anticipate that IO Biotech will post -1.35 EPS for the current year.

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.

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