Citadel Advisors LLC Invests $249,000 in IO Biotech, Inc. (NASDAQ:IOBT)

Citadel Advisors LLC purchased a new position in shares of IO Biotech, Inc. (NASDAQ:IOBT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 270,504 shares of the company's stock, valued at approximately $249,000. Citadel Advisors LLC owned approximately 0.41% of IO Biotech at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in IOBT. XTX Topco Ltd acquired a new position in shares of IO Biotech in the fourth quarter worth about $26,000. Vontobel Holding Ltd. acquired a new stake in IO Biotech in the 4th quarter valued at about $30,000. Renaissance Technologies LLC raised its holdings in IO Biotech by 22.5% in the 4th quarter. Renaissance Technologies LLC now owns 118,800 shares of the company's stock valued at $109,000 after acquiring an additional 21,800 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in IO Biotech in the 4th quarter valued at about $407,000. Finally, Dauntless Investment Group LLC purchased a new stake in shares of IO Biotech in the 4th quarter valued at approximately $688,000. 54.76% of the stock is owned by institutional investors and hedge funds.

IO Biotech Stock Up 6.7%

IOBT stock traded up $0.10 during midday trading on Friday, hitting $1.60. The company's stock had a trading volume of 182,415 shares, compared to its average volume of 280,493. IO Biotech, Inc. has a 52-week low of $0.66 and a 52-week high of $1.73. The firm has a market capitalization of $105.41 million, a P/E ratio of -1.17 and a beta of 0.36. The firm has a 50-day simple moving average of $1.05 and a 200-day simple moving average of $0.96.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. HC Wainwright reaffirmed a "buy" rating on shares of IO Biotech in a research report on Wednesday, May 14th. Piper Sandler raised shares of IO Biotech to a "strong-buy" rating in a research report on Wednesday, March 12th.

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.