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

iTeos Therapeutics (NASDAQ:ITOS) had its price target cut by equities research analysts at Wells Fargo & Company from $19.00 to $17.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 141.13% from the stock’s previous close.

A number of other brokerages have also recently commented on ITOS. Wedbush reaffirmed an “outperform” rating and issued a $25.00 target price on shares of iTeos Therapeutics in a report on Wednesday. JPMorgan Chase & Co. cut their price target on shares of iTeos Therapeutics from $22.00 to $15.00 and set an “overweight” rating for the company in a report on Thursday. Finally, HC Wainwright reissued a “buy” rating and set a $46.00 price target on shares of iTeos Therapeutics in a report on Thursday.

iTeos Therapeutics Stock Performance

Shares of NASDAQ:ITOS opened at $7.05 on Thursday. The company has a 50-day simple moving average of $7.52 and a 200-day simple moving average of $9.48. iTeos Therapeutics has a one year low of $6.67 and a one year high of $18.75. The stock has a market capitalization of $257.56 million, a price-to-earnings ratio of -2.24 and a beta of 1.38.

iTeos Therapeutics (NASDAQ:ITOS) last announced its earnings results on Wednesday, March 5th. The company reported ($1.01) EPS for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.13. As a group, research analysts forecast that iTeos Therapeutics will post -3.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ITOS. Point72 DIFC Ltd purchased a new position in iTeos Therapeutics during the third quarter worth about $31,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in iTeos Therapeutics in the fourth quarter valued at about $42,000. Virtus ETF Advisers LLC increased its holdings in iTeos Therapeutics by 58.2% in the fourth quarter. Virtus ETF Advisers LLC now owns 8,948 shares of the company’s stock valued at $69,000 after buying an additional 3,293 shares in the last quarter. Forefront Analytics LLC purchased a new position in iTeos Therapeutics in the fourth quarter valued at about $85,000. Finally, Graham Capital Management L.P. purchased a new position in iTeos Therapeutics in the fourth quarter valued at about $85,000. 97.16% of the stock is owned by hedge funds and other institutional investors.

iTeos Therapeutics Company Profile

iTeos Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the discovery and development of a new generation of immuno-oncology therapeutics for people living with cancer. Its pipeline includes EOS-448, Inupadenant, and EOS-984. The company was founded by Michel Detheux in April 2012 and is headquartered in Watertown, MA.