IO Biotech, Inc. (NASDAQ:IOBT – Get Free Report) was the target of a significant decline in short interest during the month of February. As of February 15th, there was short interest totalling 24,300 shares, a decline of 31.0% from the January 31st total of 35,200 shares. Based on an average daily trading volume, of 311,000 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the company’s shares are sold short.
IO Biotech Stock Up 5.9 %
NASDAQ IOBT traded up $0.05 on Tuesday, reaching $0.91. The company had a trading volume of 123,963 shares, compared to its average volume of 140,087. IO Biotech has a 52 week low of $0.66 and a 52 week high of $1.85. The stock’s 50 day moving average is $0.93 and its 200-day moving average is $1.02. The stock has a market cap of $60.23 million, a price-to-earnings ratio of -0.67 and a beta of 0.24.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of IO Biotech in a research note on Tuesday, November 12th.
Institutional Trading of IO Biotech
Institutional investors and hedge funds have recently modified their holdings of the stock. Dauntless Investment Group LLC bought a new position in IO Biotech during the 4th quarter worth approximately $688,000. Landscape Capital Management L.L.C. acquired a new stake in IO Biotech in the fourth quarter worth $407,000. Citadel Advisors LLC bought a new position in shares of IO Biotech during the fourth quarter worth $249,000. Vontobel Holding Ltd. acquired a new position in shares of IO Biotech in the 4th quarter valued at $30,000. Finally, XTX Topco Ltd bought a new stake in shares of IO Biotech in the 4th quarter valued at $26,000. 54.76% of the stock is owned by institutional investors.
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.
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