IO Biotech, Inc. (NASDAQ:IOBT – Get Free Report) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 68,200 shares, a decrease of 16.4% from the March 15th total of 81,600 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 138,300 shares, the days-to-cover ratio is currently 0.5 days.
IO Biotech Trading Down 1.9 %
Shares of NASDAQ IOBT opened at $1.52 on Tuesday. IO Biotech has a 12 month low of $0.82 and a 12 month high of $2.64. The stock has a 50 day moving average of $1.65 and a 200-day moving average of $1.48. The company has a market capitalization of $100.14 million, a P/E ratio of -0.70 and a beta of 0.49.
IO Biotech (NASDAQ:IOBT – Get Free Report) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). Analysts predict that IO Biotech will post -1.41 EPS for the current fiscal year.
Insider Buying and Selling
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Armistice Capital LLC acquired a new stake in IO Biotech during the third quarter worth approximately $3,029,000. Vivo Capital LLC lifted its holdings in IO Biotech by 104.7% during the 3rd quarter. Vivo Capital LLC now owns 6,173,439 shares of the company’s stock worth $8,705,000 after purchasing an additional 3,157,894 shares during the last quarter. Stonepine Capital Management LLC bought a new stake in IO Biotech in the 3rd quarter valued at $2,785,000. Pivotal bioVenture Partners Investment Advisor LLC acquired a new position in IO Biotech in the 3rd quarter valued at $1,219,000. Finally, Citadel Advisors LLC increased its position in IO Biotech by 192.4% during the 3rd quarter. Citadel Advisors LLC now owns 42,180 shares of the company’s stock worth $114,000 after buying an additional 27,754 shares during the period. Institutional investors and hedge funds own 54.76% of the company’s stock.
Wall Street Analyst Weigh In
Separately, HC Wainwright reiterated a “buy” rating and issued a $8.00 price target on shares of IO Biotech in a research note on Wednesday, March 6th.
Get Our Latest Research Report on IOBT
IO Biotech Company Profile
IO Biotech, Inc, a clinical-stage biopharmaceutical company, develops immune-modulating cancer therapies based on the T-win technology platform. The company's lead product candidate, IO102-IO103, which is designed to target immunosuppressive proteins, such as 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 1 clinical trial to treat lung, head and neck, bladder, and melanoma cancer.
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