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IO Biotech (NASDAQ:IOBT) Receives Buy Rating from HC Wainwright

IO Biotech logo with Medical background

HC Wainwright reissued their buy rating on shares of IO Biotech (NASDAQ:IOBT - Free Report) in a report published on Tuesday,Benzinga reports. They currently have a $12.00 price objective on the stock. HC Wainwright also issued estimates for IO Biotech's Q1 2025 earnings at ($0.50) EPS, Q1 2025 earnings at ($0.50) EPS, Q2 2025 earnings at ($0.51) EPS, Q2 2025 earnings at ($0.51) EPS, Q3 2025 earnings at ($0.27) EPS, Q4 2025 earnings at ($0.29) EPS, Q4 2025 earnings at ($0.29) EPS, FY2025 earnings at ($1.42) EPS, FY2025 earnings at ($1.42) EPS, FY2026 earnings at ($0.91) EPS, FY2026 earnings at ($0.91) EPS, FY2027 earnings at ($0.67) EPS, FY2028 earnings at ($0.39) EPS, FY2028 earnings at ($0.39) EPS, FY2029 earnings at ($0.13) EPS and FY2029 earnings at ($0.13) EPS.

Separately, Piper Sandler upgraded IO Biotech to a "strong-buy" rating in a report on Wednesday, March 12th.

Check Out Our Latest Stock Report on IOBT

IO Biotech Trading Down 2.1 %

NASDAQ IOBT traded down $0.02 during trading on Tuesday, reaching $0.98. The company's stock had a trading volume of 180,208 shares, compared to its average volume of 271,235. The stock has a market capitalization of $64.84 million, a PE ratio of -0.72 and a beta of 0.22. The business has a 50-day moving average price of $0.97 and a 200-day moving average price of $0.98. IO Biotech has a 1-year low of $0.66 and a 1-year high of $1.79.

Institutional Trading of IO Biotech

Large investors have recently modified their holdings of the company. Citadel Advisors LLC acquired a new position in IO Biotech during the 4th quarter worth $249,000. Dauntless Investment Group LLC acquired a new stake in IO Biotech in the 4th quarter valued at approximately $688,000. XTX Topco Ltd acquired a new stake in IO Biotech in the 4th quarter valued at approximately $26,000. Renaissance Technologies LLC increased its position in IO Biotech by 22.5% in the 4th quarter. Renaissance Technologies LLC now owns 118,800 shares of the company's stock worth $109,000 after buying an additional 21,800 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of IO Biotech during the fourth quarter worth approximately $407,000. 54.76% of the stock is owned by institutional investors.

IO Biotech Company Profile

(Get Free Report)

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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