HC Wainwright Reaffirms Buy Rating for IO Biotech (NASDAQ:IOBT)

IO Biotech (NASDAQ:IOBT)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They presently have a $12.00 price objective on the stock.

IOBT has been the topic of a number of other research reports. 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. Morgan Stanley upped their price objective on shares of IO Biotech from $4.00 to $6.00 and gave the company an “overweight” rating in a research note on Monday, September 16th.

IO Biotech Price Performance

NASDAQ:IOBT opened at $0.97 on Tuesday. IO Biotech has a one year low of $0.73 and a one year high of $2.10. The company has a market cap of $63.91 million, a PE ratio of -0.71 and a beta of 0.42. The firm’s 50 day simple moving average is $1.09 and its 200 day simple moving average is $1.26.

IO Biotech (NASDAQ:IOBT) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.07). Equities research analysts expect that IO Biotech will post -1.18 EPS for the current year.

Institutional Investors Weigh In On IO Biotech

An institutional investor recently raised its position in IO Biotech stock. XTX Topco Ltd lifted its stake in shares of IO Biotech, Inc. (NASDAQ:IOBT) by 67.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,555 shares of the company’s stock after buying an additional 10,688 shares during the quarter. XTX Topco Ltd’s holdings in IO Biotech were worth $31,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 54.76% of the company’s stock.

IO Biotech Company Profile

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.