IO Biotech, Inc. (NASDAQ:IOBT) Major Shareholder Holdings A/S Novo Sells 51,522 Shares

IO Biotech, Inc. (NASDAQ:IOBT) major shareholder Holdings A/S Novo sold 51,522 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $1.33, for a total transaction of $68,524.26. Following the sale, the insider now owns 4,377,927 shares in the company, valued at $5,822,642.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Holdings A/S Novo also recently made the following trade(s):

• On Friday, May 10th, Holdings A/S Novo sold 658,809 shares of IO Biotech stock. The stock was sold at an average price of $1.22, for a total transaction of $803,746.98.

IO Biotech Stock Performance

Shares of NASDAQ IOBT opened at $1.29 on Monday. The stock’s 50-day simple moving average is $1.27 and its 200-day simple moving average is $1.51. The firm has a market capitalization of $84.99 million, a PE ratio of -0.69 and a beta of 0.47. IO Biotech, Inc. has a fifty-two week low of $0.82 and a fifty-two week high of $2.18.

IO Biotech (NASDAQ:IOBT) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.07. On average, sell-side analysts forecast that IO Biotech, Inc. will post -1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IO Biotech

An institutional investor recently raised its position in IO Biotech stock. PFM Health Sciences LP lifted its position in shares of IO Biotech, Inc. (NASDAQ:IOBT) by 73.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,341,107 shares of the company’s stock after purchasing an additional 987,654 shares during the period. PFM Health Sciences LP owned about 3.55% of IO Biotech worth $4,401,000 at the end of the most recent reporting period. 54.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright lifted their price objective on shares of IO Biotech from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th.

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.