IO Biotech (NASDAQ:IOBT) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of IO Biotech (NASDAQ:IOBT) in a research report released on Wednesday morning,Benzinga reports. HC Wainwright currently has a $12.00 target price on the stock.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley upped their target price on IO Biotech from $4.00 to $6.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Piper Sandler reiterated an “overweight” rating and issued a $10.00 price objective on shares of IO Biotech in a report on Tuesday, September 3rd.

IO Biotech Trading Down 10.6 %

Shares of IO Biotech stock opened at $1.10 on Wednesday. IO Biotech has a 1-year low of $0.73 and a 1-year high of $2.10. The company has a market cap of $72.47 million, a PE ratio of -0.76 and a beta of 0.42. The company has a 50 day moving average of $1.10 and a 200-day moving average of $1.27.

IO Biotech (NASDAQ:IOBT) last posted its earnings results on Tuesday, August 13th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.04. Research analysts forecast that IO Biotech will post -1.18 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in IO Biotech stock. Renaissance Technologies LLC lifted its position in shares of IO Biotech, Inc. (NASDAQ:IOBT) by 8.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 180,800 shares of the company’s stock after buying an additional 13,600 shares during the quarter. Renaissance Technologies LLC owned about 0.27% of IO Biotech worth $212,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.