IO Biotech (NASDAQ:IOBT – Get Free Report)‘s stock had its “hold” rating reaffirmed by research analysts at TD Cowen in a report issued on Tuesday, Marketbeat Ratings reports.
A number of other research analysts have also recently commented on the company. Cowen cut IO Biotech to a “hold” rating in a research note on Tuesday. Wall Street Zen raised IO Biotech to a “sell” rating in a report on Saturday, June 14th. HC Wainwright lowered IO Biotech from a “buy” rating to a “neutral” rating in a research note on Monday. Finally, Morgan Stanley cut IO Biotech from an “overweight” rating to an “equal weight” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.00.
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IO Biotech Price Performance
IOBT opened at $0.36 on Tuesday. The company has a debt-to-equity ratio of 4.22, a quick ratio of 1.96 and a current ratio of 1.96. The company’s 50 day moving average is $1.71 and its 200-day moving average is $1.39. IO Biotech has a 1-year low of $0.32 and a 1-year high of $2.79.
IO Biotech (NASDAQ:IOBT – Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.05). As a group, equities analysts expect that IO Biotech will post -1.35 earnings per share for the current fiscal year.
Hedge Funds Weigh In On IO Biotech
A number of hedge funds have recently made changes to their positions in IOBT. XTX Topco Ltd lifted its stake in shares of IO Biotech by 80.0% in the first quarter. XTX Topco Ltd now owns 50,486 shares of the company’s stock worth $55,000 after acquiring an additional 22,446 shares during the period. Jane Street Group LLC bought a new position in IO Biotech during the 1st quarter worth approximately $26,000. NewEdge Advisors LLC acquired a new position in shares of IO Biotech in the 2nd quarter worth approximately $34,000. Marex Group plc bought a new stake in shares of IO Biotech in the 2nd quarter valued at $63,000. Finally, Citadel Advisors LLC acquired a new stake in shares of IO Biotech during the fourth quarter worth $249,000. 54.76% of the stock is currently owned by institutional investors.
About IO Biotech
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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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