IO Biotech, Inc. (NASDAQ:IOBT - Get Free Report) shot up 1.4% on Tuesday . The company traded as high as $1.45 and last traded at $1.45. 149,348 shares were traded during mid-day trading, a decline of 47% from the average session volume of 284,299 shares. The stock had previously closed at $1.43.
Analyst Ratings Changes
A number of analysts have recently issued reports on the company. HC Wainwright reiterated 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 note on Wednesday, March 12th. Finally, Wall Street Zen upgraded shares of IO Biotech to a "sell" rating in a research report on Saturday, June 14th.
Get Our Latest Report on IO Biotech
IO Biotech Stock Down 2.8%
The firm has a market capitalization of $92.23 million, a P/E ratio of -0.94 and a beta of 0.36. The business's 50-day simple moving average is $1.29 and its 200 day simple moving average is $1.06.
Institutional Trading of IO Biotech
Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its stake in shares of 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. XTX Topco Ltd increased its stake in IO Biotech by 80.0% in the 1st quarter. XTX Topco Ltd now owns 50,486 shares of the company's stock worth $55,000 after purchasing an additional 22,446 shares during the period. Jane Street Group LLC bought a new stake in IO Biotech in the first quarter valued at approximately $26,000. Citadel Advisors LLC purchased a new stake in shares of IO Biotech during the fourth quarter valued at approximately $249,000. Finally, Landscape Capital Management L.L.C. bought a new position in shares of IO Biotech in the fourth quarter worth approximately $407,000. 54.76% of the stock is currently owned by hedge funds and other institutional investors.
About IO Biotech
(
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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.
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