BVF Inc. IL Increases Stock Holdings in iTeos Therapeutics, Inc. $ITOS

Key Points

• BVF Inc. IL increased its stake in iTeos Therapeutics by 32.3%, owning a total of 3,075,000 shares after acquiring an additional 750,000 shares in the first quarter.
• Analysts have downgraded iTeos Therapeutics from "strong-buy" to "hold", with price targets ranging from $8.00 to $12.00.
• iTeos Therapeutics reported a loss of ($1.51) EPS, missing estimates by ($0.39) and forecasting an annual EPS of ($3.49) for the current fiscal year.

BVF Inc. IL grew its stake in iTeos Therapeutics, Inc. (NASDAQ:ITOS - Free Report) by 32.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,075,000 shares of the company's stock after purchasing an additional 750,000 shares during the quarter. iTeos Therapeutics makes up approximately 0.7% of BVF Inc. IL's investment portfolio, making the stock its 27th largest holding. BVF Inc. IL owned approximately 8.03% of iTeos Therapeutics worth $18,358,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ITOS. RA Capital Management L.P. increased its position in iTeos Therapeutics by 74.4% during the first quarter. RA Capital Management L.P. now owns 3,649,057 shares of the company's stock worth $21,785,000 after acquiring an additional 1,556,798 shares during the period. 683 Capital Management LLC increased its position in iTeos Therapeutics by 90.6% during the first quarter. 683 Capital Management LLC now owns 1,750,000 shares of the company's stock worth $10,448,000 after acquiring an additional 831,883 shares during the period. Dimensional Fund Advisors LP increased its position in iTeos Therapeutics by 15.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,210,080 shares of the company's stock worth $9,293,000 after acquiring an additional 163,880 shares during the period. Jacobs Levy Equity Management Inc. increased its position in iTeos Therapeutics by 347.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 922,134 shares of the company's stock worth $7,082,000 after acquiring an additional 716,271 shares during the period. Finally, Millennium Management LLC increased its position in iTeos Therapeutics by 1,008.8% during the fourth quarter. Millennium Management LLC now owns 411,072 shares of the company's stock worth $3,157,000 after acquiring an additional 373,999 shares during the period. 97.16% of the stock is owned by institutional investors.

iTeos Therapeutics Price Performance

Shares of NASDAQ ITOS remained flat at $10.15 during midday trading on Friday. iTeos Therapeutics, Inc. has a 52 week low of $4.80 and a 52 week high of $17.63. The business's 50-day simple moving average is $10.15 and its 200-day simple moving average is $8.53. 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 released 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). Equities analysts forecast that iTeos Therapeutics, Inc. will post -3.49 earnings per share for the current year.

Wall Street Analyst Weigh In

ITOS has been the topic of a number of recent research reports. Raymond James Financial set a $12.00 price target on shares of iTeos Therapeutics in a research report on Wednesday, May 14th. HC Wainwright lowered shares of iTeos Therapeutics from a "buy" rating to a "neutral" rating in a report on Wednesday, May 14th. Wedbush reissued an "outperform" rating and issued a $10.50 target price (down from $12.00) on shares of iTeos Therapeutics in a report on Monday, July 21st. JPMorgan Chase & Co. lowered shares of iTeos Therapeutics from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $15.00 to $8.00 in a report on Tuesday, May 13th. Finally, Leerink Partners reissued a "market perform" rating and issued a $9.00 target price (down from $47.00) on shares of iTeos Therapeutics in a report on Wednesday, May 14th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $15.50.

Insider Activity

In related news, CEO Michel Detheux sold 43,883 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $10.02, for a total transaction of $439,707.66. Following the completion of the transaction, the chief executive officer owned 153,903 shares in the company, valued at approximately $1,542,108.06. This represents a 22.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 96,165 shares of company stock valued at $964,096. Corporate insiders own 14.20% of the company's stock.

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.