IO Biotech, Inc. (NASDAQ:IOBT) Shares Sold by Novo Holdings A S

Novo Holdings A S reduced its stake in shares of IO Biotech, Inc. (NASDAQ:IOBT - Free Report) by 24.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,354,449 shares of the company's stock after selling 1,075,000 shares during the period. Novo Holdings A S owned 5.09% of IO Biotech worth $3,522,000 as of its most recent SEC filing.

Separately, XTX Topco Ltd increased its stake in IO Biotech by 67.4% during the second quarter. XTX Topco Ltd now owns 26,555 shares of the company's stock worth $31,000 after acquiring an additional 10,688 shares during the last quarter. Hedge funds and other institutional investors own 54.76% of the company's stock.

IO Biotech Trading Down 0.8 %

NASDAQ:IOBT traded down $0.01 during mid-day trading on Friday, hitting $1.21. The company had a trading volume of 165,314 shares, compared to its average volume of 110,923. The business has a fifty day simple moving average of $1.17 and a 200-day simple moving average of $1.29. The firm has a market capitalization of $79.72 million, a price-to-earnings ratio of -0.65 and a beta of 0.46. IO Biotech, Inc. has a 1 year low of $0.73 and a 1 year high of $2.10.

IO Biotech (NASDAQ:IOBT - Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.04. As a group, research analysts anticipate that IO Biotech, Inc. will post -1.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IOBT. Piper Sandler reaffirmed an "overweight" rating and issued a $10.00 price objective on shares of IO Biotech in a research note on Tuesday, September 3rd. HC Wainwright restated a "buy" rating and issued a $12.00 price target on shares of IO Biotech in a report on Monday, September 16th. Finally, Morgan Stanley boosted their price objective on shares of IO Biotech from $4.00 to $6.00 and gave the stock an "overweight" rating in a research note on Monday, September 16th.

IO Biotech 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.