IO Biotech, Inc. (NASDAQ:IOBT – Get Free Report) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 122,100 shares, an increase of 136.2% from the August 31st total of 51,700 shares. Based on an average trading volume of 437,700 shares, the short-interest ratio is currently 0.3 days. Currently, 0.3% of the shares of the stock are sold short.
IO Biotech Trading Up 1.9 %
Shares of IO Biotech stock traded up $0.02 during trading hours on Thursday, reaching $1.07. 88,233 shares of the company’s stock were exchanged, compared to its average volume of 232,363. The firm has a market capitalization of $70.49 million, a price-to-earnings ratio of -0.57 and a beta of 0.50. IO Biotech has a 52-week low of $0.73 and a 52-week high of $2.10. The company has a fifty day moving average of $1.27 and a 200-day moving average of $1.37.
IO Biotech (NASDAQ:IOBT – Get Free Report) last released its earnings results on Tuesday, August 13th. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.04. On average, equities research analysts anticipate that IO Biotech will post -1.18 earnings per share for the current fiscal year.
Insider Activity at IO Biotech
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. PFM Health Sciences LP increased its position in IO Biotech by 73.0% during the fourth quarter. PFM Health Sciences LP now owns 2,341,107 shares of the company’s stock worth $4,401,000 after purchasing an additional 987,654 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of IO Biotech by 8.1% during the 2nd quarter. Renaissance Technologies LLC now owns 180,800 shares of the company’s stock valued at $212,000 after buying an additional 13,600 shares during the period. Finally, XTX Topco Ltd increased its holdings in shares of IO Biotech by 67.4% during the 2nd quarter. XTX Topco Ltd now owns 26,555 shares of the company’s stock worth $31,000 after buying an additional 10,688 shares during the last quarter. 54.76% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the company. Morgan Stanley boosted their price target on IO Biotech from $4.00 to $6.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of IO Biotech in a research note on Monday, September 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $10.00 price target on shares of IO Biotech in a research note on Tuesday, September 3rd.
Get Our Latest Analysis on IOBT
IO Biotech Company 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.
Further Reading
- Five stocks we like better than IO Biotech
- How to Choose Top Rated Stocks
- Rocket Lab Stock Soars: Should Investors Chase the Rally?
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- KB Home Slips After Earnings: What’s Next for Homebuilders?
- 10 Best Airline Stocks to Buy
- Micron Stock Soars as AI Demand Fuels Big Q4 Earnings Beat
Receive News & Ratings for IO Biotech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IO Biotech and related companies with MarketBeat.com's FREE daily email newsletter.