IO Biotech’s (IOBT) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of IO Biotech (NASDAQ:IOBT) in a report issued on Tuesday,Benzinga reports. The brokerage currently has a $12.00 target price on the stock.

A number of other research analysts have also recently weighed in on IOBT. Morgan Stanley lifted 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. Piper Sandler restated an “overweight” rating and set a $10.00 target price on shares of IO Biotech in a report on Tuesday, September 3rd.

IO Biotech Price Performance

Shares of NASDAQ IOBT opened at $0.93 on Tuesday. IO Biotech has a 52-week low of $0.73 and a 52-week high of $2.10. The firm has a fifty day moving average of $1.09 and a 200-day moving average of $1.26.

IO Biotech (NASDAQ:IOBT) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.04. As a group, analysts anticipate that IO Biotech will post -1.18 EPS for the current fiscal year.

Institutional Trading of IO Biotech

An institutional investor recently raised its position in IO Biotech stock. XTX Topco Ltd increased its position in IO Biotech, Inc. (NASDAQ:IOBT) by 67.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,555 shares of the company’s stock after purchasing 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 and Exchange Commission. Hedge funds and other institutional investors own 54.76% of the company’s stock.

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.