HC Wainwright Reaffirms “Buy” Rating for IO Biotech (NASDAQ:IOBT)

IO Biotech (NASDAQ:IOBT)‘s stock had its “buy” rating reiterated by HC Wainwright in a research note issued on Tuesday,Benzinga reports. They currently have a $12.00 price target on the stock.

IOBT has been the subject of a number of other research reports. Piper Sandler restated an “overweight” rating and issued a $10.00 price objective on shares of IO Biotech in a research note on Tuesday, September 3rd. Morgan Stanley increased their price target on shares of IO Biotech from $4.00 to $6.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th.

IO Biotech Stock Down 15.3 %

IO Biotech stock traded down $0.16 during trading hours on Tuesday, hitting $0.89. The stock had a trading volume of 189,919 shares, compared to its average volume of 226,592. The company has a 50-day moving average of $1.09 and a two-hundred day moving average of $1.26. IO Biotech has a fifty-two week low of $0.73 and a fifty-two week high of $2.10. The company has a market cap of $58.57 million, a PE ratio of -0.62 and a beta of 0.42.

IO Biotech (NASDAQ:IOBT) last issued its earnings results on Tuesday, August 13th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.04. As a group, analysts forecast that IO Biotech will post -1.18 EPS for the current fiscal year.

Institutional Trading of IO Biotech

A hedge fund recently raised its stake in IO Biotech stock. Renaissance Technologies LLC boosted its position in IO Biotech, Inc. (NASDAQ:IOBT) by 8.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 180,800 shares of the company’s stock after buying an additional 13,600 shares during the quarter. Renaissance Technologies LLC owned approximately 0.27% of IO Biotech worth $212,000 as of its most recent filing with the SEC. 54.76% of the stock is currently owned by hedge funds and other institutional investors.

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.