iTeos Therapeutics, Inc. (NASDAQ:ITOS) Sees Significant Drop in Short Interest

iTeos Therapeutics, Inc. (NASDAQ:ITOS) was the recipient of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 1,280,000 shares, a decline of 19.0% from the February 13th total of 1,580,000 shares. Based on an average daily trading volume, of 362,400 shares, the days-to-cover ratio is currently 3.5 days. Currently, 3.9% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wedbush reissued an “outperform” rating and issued a $25.00 price objective on shares of iTeos Therapeutics in a report on Wednesday, March 5th. HC Wainwright reiterated a “buy” rating and set a $46.00 price objective on shares of iTeos Therapeutics in a research report on Thursday, March 6th. JPMorgan Chase & Co. reduced their price objective on iTeos Therapeutics from $22.00 to $15.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Finally, Wells Fargo & Company reduced their price objective on iTeos Therapeutics from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th.

Institutional Investors Weigh In On iTeos Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of ITOS. BVF Inc. IL acquired a new stake in shares of iTeos Therapeutics during the 4th quarter valued at $17,856,000. JPMorgan Chase & Co. lifted its position in shares of iTeos Therapeutics by 342.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,068,796 shares of the company’s stock valued at $15,888,000 after acquiring an additional 1,601,477 shares during the last quarter. Boxer Capital Management LLC acquired a new stake in shares of iTeos Therapeutics during the 4th quarter valued at $7,272,000. Jacobs Levy Equity Management Inc. lifted its position in shares of iTeos Therapeutics by 347.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 922,134 shares of the company’s stock valued at $7,082,000 after acquiring an additional 716,271 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of iTeos Therapeutics by 1,008.8% during the 4th quarter. Millennium Management LLC now owns 411,072 shares of the company’s stock valued at $3,157,000 after acquiring an additional 373,999 shares during the last quarter. Institutional investors and hedge funds own 97.16% of the company’s stock.

iTeos Therapeutics Price Performance

ITOS opened at $6.96 on Thursday. The company has a market capitalization of $265.83 million, a price-to-earnings ratio of -2.21 and a beta of 1.38. iTeos Therapeutics has a 1-year low of $6.67 and a 1-year high of $18.75. The business has a 50 day moving average price of $7.43 and a two-hundred day moving average price of $8.85.

iTeos Therapeutics (NASDAQ:ITOS) last released its earnings results on Wednesday, March 5th. The company reported ($1.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.13. Equities analysts expect that iTeos Therapeutics will post -3.49 EPS for the current fiscal year.

About iTeos Therapeutics

iTeos Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the discovery and development of a new generation of immuno-oncology therapeutics for people living with cancer. Its pipeline includes EOS-448, Inupadenant, and EOS-984. The company was founded by Michel Detheux in April 2012 and is headquartered in Watertown, MA.