IO Biotech, Inc. (NASDAQ:IOBT) CEO Acquires $10,125.00 in Stock

IO Biotech, Inc. (NASDAQ:IOBT) CEO Mai-Britt Zocca bought 12,500 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $0.81 per share, with a total value of $10,125.00. Following the completion of the transaction, the chief executive officer now owns 49,891 shares of the company’s stock, valued at $40,411.71. The trade was a 33.43 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

IO Biotech Stock Performance

Shares of IO Biotech stock opened at $0.89 on Tuesday. The stock has a market capitalization of $58.63 million, a price-to-earnings ratio of -0.65 and a beta of 0.27. The company has a fifty day moving average of $0.98 and a 200-day moving average of $1.15. IO Biotech, Inc. has a 52-week low of $0.66 and a 52-week high of $2.10.

IO Biotech (NASDAQ:IOBT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.07). On average, equities research analysts forecast that IO Biotech, Inc. will post -1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IO Biotech

An institutional investor recently raised its position in IO Biotech stock. XTX Topco Ltd lifted its position in IO Biotech, Inc. (NASDAQ:IOBT) by 67.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 26,555 shares of the company’s stock after purchasing an additional 10,688 shares during the period. XTX Topco Ltd’s holdings in IO Biotech were worth $31,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 54.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IOBT shares. Piper Sandler reaffirmed an “overweight” rating and set a $10.00 price objective on shares of IO Biotech in a report on Tuesday, September 3rd. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of IO Biotech in a research note on Tuesday, November 12th. Finally, Morgan Stanley increased their price objective on IO Biotech from $4.00 to $6.00 and gave the company an “overweight” rating in a research report on Monday, September 16th.

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.