IO Biotech FY2024 EPS Forecast Reduced by HC Wainwright

IO Biotech, Inc. (NASDAQ:IOBT) – Analysts at HC Wainwright lowered their FY2024 earnings per share (EPS) estimates for IO Biotech in a research report issued to clients and investors on Tuesday, November 12th. HC Wainwright analyst E. Bodnar now forecasts that the company will post earnings per share of ($1.36) for the year, down from their previous forecast of ($1.32). HC Wainwright has a “Buy” rating and a $12.00 price objective on the stock. The consensus estimate for IO Biotech’s current full-year earnings is ($1.18) per share. HC Wainwright also issued estimates for IO Biotech’s Q4 2024 earnings at ($0.39) EPS, FY2025 earnings at ($1.03) EPS, FY2026 earnings at ($0.88) EPS, FY2027 earnings at ($0.59) EPS and FY2028 earnings at ($0.27) EPS.

IOBT has been the topic of several other research reports. Morgan Stanley lifted their price target 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. Piper Sandler reaffirmed an “overweight” rating and set a $10.00 target price on shares of IO Biotech in a research report on Tuesday, September 3rd.

IO Biotech Stock Down 7.9 %

IOBT opened at $0.82 on Friday. The firm has a market capitalization of $54.02 million, a P/E ratio of -0.60 and a beta of 0.42. The firm’s 50 day moving average is $1.09 and its 200-day moving average is $1.25. IO Biotech has a 52-week low of $0.73 and a 52-week high of $2.10.

IO Biotech (NASDAQ:IOBT) last announced its earnings results on Tuesday, November 12th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.07).

Institutional Trading of IO Biotech

An institutional investor recently raised its position in IO Biotech stock. XTX Topco Ltd grew its stake in shares of IO Biotech, Inc. (NASDAQ:IOBT) by 67.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,555 shares of the company’s stock after acquiring an additional 10,688 shares during the period. XTX Topco Ltd’s holdings in IO Biotech were worth $31,000 at the end of the most recent quarter. 54.76% of the stock is currently owned by 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.