HC Wainwright reissued their buy rating on shares of IO Biotech (NASDAQ:IOBT - Free Report) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $12.00 target price on the stock.
Separately, Piper Sandler raised shares of IO Biotech to a "strong-buy" rating in a research note on Wednesday, March 12th.
Read Our Latest Stock Report on IOBT
IO Biotech Trading Down 6.1 %
Shares of NASDAQ IOBT traded down $0.07 during mid-day trading on Tuesday, reaching $1.01. 109,288 shares of the company's stock were exchanged, compared to its average volume of 270,532. IO Biotech has a twelve month low of $0.66 and a twelve month high of $1.79. The firm has a market capitalization of $66.21 million, a price-to-earnings ratio of -0.73 and a beta of 0.22. The business has a fifty day simple moving average of $0.97 and a 200 day simple moving average of $0.98.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the company. Dauntless Investment Group LLC bought a new stake in IO Biotech in the 4th quarter valued at approximately $688,000. Landscape Capital Management L.L.C. acquired a new stake in shares of IO Biotech in the fourth quarter valued at approximately $407,000. Citadel Advisors LLC bought a new stake in shares of IO Biotech in the fourth quarter worth $249,000. Vontobel Holding Ltd. acquired a new position in IO Biotech during the fourth quarter worth $30,000. Finally, XTX Topco Ltd bought a new position in IO Biotech in the fourth quarter valued at $26,000. 54.76% of the stock is currently owned by institutional investors.
About IO Biotech
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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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