Short Interest in IO Biotech, Inc. (NASDAQ:IOBT) Rises By 32.9%

IO Biotech, Inc. (NASDAQ:IOBT - Get Free Report) saw a large growth in short interest in February. As of February 28th, there was short interest totalling 32,300 shares, a growth of 32.9% from the February 13th total of 24,300 shares. Based on an average daily volume of 181,100 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the company's stock are short sold.

IO Biotech Stock Performance

Shares of IOBT traded up $0.05 during trading hours on Thursday, hitting $0.95. 159,050 shares of the company were exchanged, compared to its average volume of 259,383. The company has a market cap of $62.59 million, a PE ratio of -0.69 and a beta of 0.22. The firm's 50 day moving average is $0.92 and its 200-day moving average is $0.97. IO Biotech has a 52 week low of $0.66 and a 52 week high of $1.85.

Institutional Investors Weigh In On IO Biotech

A number of large investors have recently added to or reduced their stakes in IOBT. XTX Topco Ltd acquired a new stake in shares of IO Biotech in the fourth quarter worth $26,000. Vontobel Holding Ltd. bought a new position in IO Biotech in the 4th quarter worth $30,000. Renaissance Technologies LLC lifted its position in IO Biotech by 22.5% during the 4th quarter. Renaissance Technologies LLC now owns 118,800 shares of the company's stock worth $109,000 after acquiring an additional 21,800 shares during the last quarter. Citadel Advisors LLC bought a new stake in IO Biotech during the fourth quarter valued at about $249,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of IO Biotech in the fourth quarter valued at about $407,000. Institutional investors own 54.76% of the company's stock.

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Analysts Set New Price Targets

Several brokerages recently commented on IOBT. HC Wainwright reissued a "buy" rating and issued a $12.00 price target on shares of IO Biotech in a research note on Wednesday, March 5th. Piper Sandler raised shares of IO Biotech to a "strong-buy" rating in a research report on Wednesday, March 12th.

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.