IO Biotech, Inc. (NASDAQ:IOBT) Short Interest Update

IO Biotech, Inc. (NASDAQ:IOBT - Get Free Report) was the target of a significant decrease in short interest in January. As of January 15th, there was short interest totalling 45,400 shares, a decrease of 68.6% from the December 31st total of 144,400 shares. Currently, 0.1% of the company's stock are sold short. Based on an average daily volume of 358,100 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On IO Biotech

An institutional investor recently raised its position in IO Biotech stock. Renaissance Technologies LLC boosted its position in IO Biotech, Inc. (NASDAQ:IOBT - Free Report) by 8.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 180,800 shares of the company's stock after purchasing an additional 13,600 shares during the period. Renaissance Technologies LLC owned about 0.27% of IO Biotech worth $212,000 as of its most recent filing with the SEC. 54.76% of the stock is currently owned by institutional investors and hedge funds.

IO Biotech Trading Down 2.1 %

Shares of IOBT traded down $0.02 during trading hours on Tuesday, hitting $0.95. 183,905 shares of the stock traded hands, compared to its average volume of 168,240. The firm has a market capitalization of $62.59 million, a PE ratio of -0.69 and a beta of 0.24. IO Biotech has a 1-year low of $0.66 and a 1-year high of $1.89. The business has a fifty day moving average of $0.85 and a 200-day moving average of $1.09.

IO Biotech (NASDAQ:IOBT - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.07). As a group, equities research analysts expect that IO Biotech will post -1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a "buy" rating and set a $12.00 price target on shares of IO Biotech in a report on Tuesday, November 12th.

IO Biotech Company Profile

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.