683 Capital Management LLC Has $10.45 Million Position in iTeos Therapeutics, Inc. $ITOS

Key Points

• 683 Capital Management LLC increased its ownership in iTeos Therapeutics by 90.6%, acquiring an additional 831,883 shares, bringing its total to 1,750,000 shares worth approximately $10.4 million.
• A notable insider, David Hallal, sold 38,228 shares at an average price of $10.24, while CEO Michel Detheux sold 43,883 shares at $10.02, reflecting a significant decrease in their holdings.
• Several analyst firms have downgraded their ratings for iTeos Therapeutics, with consensus now at a "Hold" and a revised price target of $15.50, as the stock is currently valued at around $10.15.

683 Capital Management LLC raised its holdings in iTeos Therapeutics, Inc. (NASDAQ:ITOS - Free Report) by 90.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,750,000 shares of the company's stock after acquiring an additional 831,883 shares during the quarter. 683 Capital Management LLC owned about 4.57% of iTeos Therapeutics worth $10,448,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of iTeos Therapeutics in the fourth quarter valued at approximately $42,000. CWM LLC raised its position in shares of iTeos Therapeutics by 428.7% in the first quarter. CWM LLC now owns 8,554 shares of the company's stock valued at $51,000 after purchasing an additional 6,936 shares during the period. Paloma Partners Management Co bought a new position in shares of iTeos Therapeutics in the first quarter valued at approximately $65,000. Forefront Analytics LLC bought a new position in shares of iTeos Therapeutics in the fourth quarter valued at approximately $85,000. Finally, Graham Capital Management L.P. bought a new position in shares of iTeos Therapeutics in the fourth quarter valued at approximately $85,000. 97.16% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other iTeos Therapeutics news, CEO Michel Detheux sold 43,883 shares of iTeos Therapeutics stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $10.02, for a total transaction of $439,707.66. Following the sale, the chief executive officer owned 153,903 shares in the company, valued at $1,542,108.06. The trade was a 22.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 96,165 shares of company stock worth $964,096 in the last 90 days. 14.20% of the stock is owned by insiders.

iTeos Therapeutics Stock Performance

ITOS stock remained flat at $10.15 on Friday. iTeos Therapeutics, Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $17.63. The firm has a 50 day moving average of $10.15 and a 200 day moving average of $8.52. The company has a market cap of $448.73 million, a price-to-earnings ratio of -2.17 and a beta of 1.31.

iTeos Therapeutics (NASDAQ:ITOS - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($1.51) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.39). As a group, sell-side analysts predict that iTeos Therapeutics, Inc. will post -3.49 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Leerink Partnrs lowered shares of iTeos Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Wall Street Zen raised shares of iTeos Therapeutics to a "sell" rating in a research report on Saturday, August 30th. Leerink Partners reissued a "market perform" rating and issued a $9.00 price target (down previously from $47.00) on shares of iTeos Therapeutics in a research report on Wednesday, May 14th. Wedbush reissued an "outperform" rating and issued a $10.50 price target (down previously from $12.00) on shares of iTeos Therapeutics in a research report on Monday, July 21st. Finally, Piper Sandler lowered shares of iTeos Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $15.50.

iTeos Therapeutics Company Profile

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.