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

IO Biotech, Inc. (NASDAQ:IOBT) CEO Mai-Britt Zocca purchased 12,500 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $0.81 per share, for a total transaction of $10,125.00. Following the completion of the transaction, the chief executive officer now directly owns 49,891 shares in the company, valued at $40,411.71. This trade represents a 33.43 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link.

IO Biotech Stock Performance

Shares of IOBT stock opened at $0.91 on Thursday. The company has a market capitalization of $59.95 million, a P/E ratio of -0.66 and a beta of 0.27. The company’s 50 day moving average price is $0.97 and its two-hundred day moving average price is $1.14. 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 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). Analysts forecast that IO Biotech, Inc. will post -1.35 earnings per share for the current year.

Institutional Trading of IO Biotech

A hedge fund recently raised its stake in IO Biotech stock. Renaissance Technologies LLC grew its holdings in IO Biotech, Inc. (NASDAQ:IOBT) by 8.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 180,800 shares of the company’s stock after purchasing an additional 13,600 shares during the period. Renaissance Technologies LLC owned about 0.27% of IO Biotech worth $212,000 at the end of the most recent quarter. 54.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.