Wells Fargo & Company Issues Pessimistic Forecast for iTeos Therapeutics (NASDAQ:ITOS) Stock Price

iTeos Therapeutics (NASDAQ:ITOS) had its price objective reduced by equities research analysts at Wells Fargo & Company from $31.00 to $19.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 156.06% from the stock’s current price.

ITOS has been the topic of several other reports. Wedbush restated an “outperform” rating and set a $25.00 price target on shares of iTeos Therapeutics in a research report on Thursday, December 12th. HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of iTeos Therapeutics in a report on Friday, December 13th.

iTeos Therapeutics Stock Performance

Shares of iTeos Therapeutics stock opened at $7.42 on Thursday. iTeos Therapeutics has a 52-week low of $7.09 and a 52-week high of $18.75. The company has a fifty day moving average of $8.54 and a 200-day moving average of $12.65. The stock has a market capitalization of $271.08 million, a price-to-earnings ratio of -2.36 and a beta of 1.37.

iTeos Therapeutics (NASDAQ:ITOS) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.05) earnings per share for the quarter, topping the consensus estimate of ($1.18) by $0.13. On average, equities research analysts forecast that iTeos Therapeutics will post -3.46 earnings per share for the current fiscal year.

Insider Transactions at iTeos Therapeutics

In other iTeos Therapeutics news, CFO Matthew Gall bought 5,000 shares of iTeos Therapeutics stock in a transaction dated Tuesday, November 19th. The shares were purchased at an average cost of $7.73 per share, with a total value of $38,650.00. Following the completion of the purchase, the chief financial officer now owns 65,429 shares of the company’s stock, valued at approximately $505,766.17. This represents a 8.27 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 12.50% of the stock is currently owned by company insiders.

Institutional Trading of iTeos Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITOS. nVerses Capital LLC increased its position in iTeos Therapeutics by 212.5% during the 3rd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $26,000 after purchasing an additional 1,700 shares during the period. Point72 DIFC Ltd bought a new stake in shares of iTeos Therapeutics during the 3rd quarter valued at about $31,000. China Universal Asset Management Co. Ltd. increased its position in shares of iTeos Therapeutics by 60.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,024 shares of the company’s stock valued at $72,000 after buying an additional 2,646 shares during the period. Virtu Financial LLC bought a new position in iTeos Therapeutics in the third quarter worth about $102,000. Finally, Quest Partners LLC raised its stake in iTeos Therapeutics by 914.7% in the third quarter. Quest Partners LLC now owns 11,020 shares of the company’s stock worth $113,000 after buying an additional 9,934 shares in the last quarter. Hedge funds and other institutional investors own 97.16% of the company’s stock.

iTeos Therapeutics Company Profile

Iteos Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of immuno-oncology therapeutics for patients with cancer. The company's lead antibody product candidate, belrestotug, an antagonist of TIGIT or T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial, as well as used to engage the Fc gamma receptor, or Fc?R to activate dendritic cells, natural killer cells, and macrophages and to promote antibody-dependent cellular cytotoxicity, or ADCC activity.