IO Biotech (NASDAQ:IOBT) Stock Price Up 1.4% - Still a Buy?

IO Biotech, Inc. (NASDAQ:IOBT - Get Free Report)'s share price rose 1.4% on Tuesday . The stock traded as high as $1.45 and last traded at $1.45. Approximately 149,348 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 284,299 shares. The stock had previously closed at $1.43.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wall Street Zen raised IO Biotech to a "sell" rating in a research report on Saturday, June 14th. HC Wainwright reaffirmed a "buy" rating on shares of IO Biotech in a report on Wednesday, May 14th.

IO Biotech Trading Up 4.6%

The stock has a market cap of $96.52 million, a P/E ratio of -0.98 and a beta of 0.36. The stock has a 50 day simple moving average of $1.29 and a 200 day simple moving average of $1.06.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IOBT. XTX Topco Ltd acquired a new stake in IO Biotech in the fourth quarter valued at about $26,000. Jane Street Group LLC bought a new position in shares of IO Biotech in the first quarter worth about $26,000. Renaissance Technologies LLC grew its position in IO Biotech by 22.5% during the 4th quarter. Renaissance Technologies LLC now owns 118,800 shares of the company's stock worth $109,000 after acquiring an additional 21,800 shares during the last quarter. Citadel Advisors LLC acquired a new position in IO Biotech in the 4th quarter valued at approximately $249,000. Finally, Landscape Capital Management L.L.C. bought a new position in shares of IO Biotech during the fourth quarter worth about $407,000. Institutional investors and hedge funds own 54.76% of the company's stock.

IO Biotech Company Profile

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.