Nuveen LLC Makes New Investment in iTeos Therapeutics, Inc. $ITOS

Key Points

• Nuveen LLC invested approximately $1.81 million in iTeos Therapeutics, acquiring 303,650 shares of the company's stock, representing about 0.79% ownership.
• iTeos Therapeutics reported a quarterly earnings miss with -($1.51) earnings per share, falling short of the analysts' expectations of -($1.12).
• The stock has seen significant changes in ratings, with firms like Piper Sandler and Leerink Partners downgrading their ratings, indicating a cautious outlook despite an average price target of $15.50.

Nuveen LLC acquired a new stake in iTeos Therapeutics, Inc. (NASDAQ:ITOS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 303,650 shares of the company's stock, valued at approximately $1,813,000. Nuveen LLC owned approximately 0.79% of iTeos Therapeutics as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ITOS. Wells Fargo & Company MN boosted its stake in iTeos Therapeutics by 16.9% in the fourth quarter. Wells Fargo & Company MN now owns 16,644 shares of the company's stock valued at $128,000 after buying an additional 2,402 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in iTeos Therapeutics in the fourth quarter valued at about $1,159,000. Barclays PLC boosted its stake in iTeos Therapeutics by 17.4% in the fourth quarter. Barclays PLC now owns 132,894 shares of the company's stock valued at $1,022,000 after buying an additional 19,683 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in iTeos Therapeutics by 15.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,210,080 shares of the company's stock valued at $9,293,000 after buying an additional 163,880 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of iTeos Therapeutics by 43.1% during the fourth quarter. Hsbc Holdings PLC now owns 47,406 shares of the company's stock valued at $355,000 after purchasing an additional 14,288 shares in the last quarter. 97.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on ITOS shares. Raymond James Financial set a $12.00 price target on iTeos Therapeutics in a research note on Wednesday, May 14th. JPMorgan Chase & Co. lowered iTeos Therapeutics from an "overweight" rating to a "neutral" rating and cut their price target for the company from $15.00 to $8.00 in a research note on Tuesday, May 13th. Wedbush reissued an "outperform" rating and set a $10.50 price target (down from $12.00) on shares of iTeos Therapeutics in a research note on Monday, July 21st. Leerink Partners reissued a "market perform" rating and set a $9.00 price target (down from $47.00) on shares of iTeos Therapeutics in a research note on Wednesday, May 14th. Finally, Piper Sandler lowered iTeos Therapeutics from a "strong-buy" rating to a "hold" rating in a research note 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. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $15.50.

Insider Buying and Selling

In other iTeos Therapeutics news, Director David Hallal sold 38,228 shares of iTeos Therapeutics stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $10.24, for a total value of $391,454.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michel Detheux sold 43,883 shares of iTeos Therapeutics stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $10.02, for a total value of $439,707.66. Following the completion of the sale, the chief executive officer owned 153,903 shares of the company's stock, valued at approximately $1,542,108.06. The trade was a 22.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 186,675 shares of company stock valued at $1,889,350. 14.20% of the stock is currently owned by corporate insiders.

iTeos Therapeutics Stock Performance

NASDAQ:ITOS remained flat at $10.15 on Thursday. The stock has a market cap of $448.73 million, a P/E ratio of -2.17 and a beta of 1.31. The company has a fifty day simple moving average of $10.15 and a 200-day simple moving average of $8.49. iTeos Therapeutics, Inc. has a 52 week low of $4.80 and a 52 week high of $17.63.

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

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.