Mai-Britt Zocca Purchases 12,500 Shares of IO Biotech, Inc. (NASDAQ:IOBT) Stock

IO Biotech, Inc. (NASDAQ:IOBT) CEO Mai-Britt Zocca bought 12,500 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of $0.81 per share, with a total value of $10,125.00. Following the completion of the purchase, the chief executive officer now directly owns 49,891 shares of the company’s stock, valued at approximately $40,411.71. The trade was a 33.43 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

IO Biotech Trading Up 15.4 %

NASDAQ:IOBT traded up $0.12 on Monday, hitting $0.89. 497,985 shares of the stock were exchanged, compared to its average volume of 263,323. The stock has a fifty day moving average of $0.98 and a 200-day moving average of $1.15. The stock has a market cap of $58.63 million, a PE ratio of -0.65 and a beta of 0.27. IO Biotech, Inc. has a fifty-two week low of $0.66 and a fifty-two week high of $2.10.

IO Biotech (NASDAQ:IOBT) last issued its earnings results on Tuesday, November 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.07). As a group, analysts predict that IO Biotech, Inc. will post -1.35 earnings per share for the current year.

Institutional Investors Weigh In On IO Biotech

A hedge fund recently raised its stake in IO Biotech stock. Renaissance Technologies LLC boosted its stake in IO Biotech, Inc. (NASDAQ:IOBT) by 8.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,800 shares of the company’s stock after purchasing an additional 13,600 shares during the period. Renaissance Technologies LLC owned approximately 0.27% of IO Biotech worth $212,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 54.76% of the company’s stock.

Wall Street Analysts Forecast Growth

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