iTeos Therapeutics' (ITOS) "Equal Weight" Rating Reaffirmed at Wells Fargo & Company

iTeos Therapeutics (NASDAQ:ITOS - Get Free Report)'s stock had its "equal weight" rating reaffirmed by stock analysts at Wells Fargo & Company in a report issued on Wednesday, MarketBeat reports. They currently have a $12.00 target price on the stock, down from their prior target price of $13.00. Wells Fargo & Company's price target would indicate a potential upside of 17.62% from the company's current price.

Several other equities analysts have also commented on ITOS. Leerink Partnrs lowered shares of iTeos Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Piper Sandler reissued an "overweight" rating and set a $12.00 target price (down from $16.00) on shares of iTeos Therapeutics in a research note on Wednesday, May 14th. JPMorgan Chase & Co. cut iTeos Therapeutics from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $15.00 to $8.00 in a research report on Tuesday, May 13th. Wedbush lowered iTeos Therapeutics from an "outperform" rating to a "neutral" rating and boosted their target price for the stock from $10.00 to $12.00 in a report on Wednesday. Finally, HC Wainwright lowered shares of iTeos Therapeutics from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 14th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $15.86.

iTeos Therapeutics Trading Up 19.6%

Shares of NASDAQ ITOS traded up $1.67 on Wednesday, reaching $10.20. 7,900,229 shares of the company traded hands, compared to its average volume of 601,642. The stock has a market capitalization of $390.47 million, a PE ratio of -3.24 and a beta of 1.39. iTeos Therapeutics has a fifty-two week low of $4.80 and a fifty-two week high of $18.13. The company has a 50 day moving average of $6.79 and a 200 day moving average of $7.38.

iTeos Therapeutics (NASDAQ:ITOS - Get Free Report) last announced its earnings results on Monday, April 28th. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($0.94) by $0.14. As a group, research analysts expect that iTeos Therapeutics will post -3.49 earnings per share for the current year.

Insider Activity

In other iTeos Therapeutics news, major shareholder Bioventures 2018 L.P. Mpm sold 630,191 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $8.06, for a total value of $5,079,339.46. Following the sale, the insider now owns 2,108,594 shares in the company, valued at approximately $16,995,267.64. The trade was a 23.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Ansbert Gadicke sold 1,031,931 shares of iTeos Therapeutics stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $8.06, for a total value of $8,317,363.86. Following the completion of the sale, the insider now owns 3,452,797 shares of the company's stock, valued at approximately $27,829,543.82. The trade was a 23.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.50% of the stock is owned by insiders.

Institutional Investors Weigh In On iTeos Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Balyasny Asset Management L.P. purchased a new position in iTeos Therapeutics in the fourth quarter valued at approximately $218,000. Empowered Funds LLC boosted its position in iTeos Therapeutics by 5.0% during the 4th quarter. Empowered Funds LLC now owns 69,072 shares of the company's stock valued at $530,000 after buying an additional 3,305 shares during the period. Virtu Financial LLC increased its stake in shares of iTeos Therapeutics by 84.3% during the fourth quarter. Virtu Financial LLC now owns 18,493 shares of the company's stock valued at $142,000 after buying an additional 8,460 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in iTeos Therapeutics during the 4th quarter valued at approximately $142,000. Finally, US Bancorp DE lifted its position in iTeos Therapeutics by 40.1% during the fourth quarter. US Bancorp DE now owns 16,919 shares of the company's stock valued at $130,000 after buying an additional 4,843 shares during the period. 97.16% of the stock is owned by hedge funds and other institutional investors.

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.

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