iTeos Therapeutics (NASDAQ:ITOS) Releases Earnings Results

Key Points

• iTeos Therapeutics reported a quarterly loss of ($1.51) EPS, missing analyst estimates by ($0.39), indicating financial underperformance.
• CEO Michel Detheux sold 43,883 shares of iTeos stock, representing a 24.41% reduction in his ownership, while the company saw significant insider trading activity over the past three months.
• Institutional investors and hedge funds now own 97.16% of iTeos' stock, with notable increases in stakes from firms like AQR Capital Management and Jane Street Group.

iTeos Therapeutics (NASDAQ:ITOS - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported ($1.51) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.39), Zacks reports.

iTeos Therapeutics Stock Down 0.2%

Shares of iTeos Therapeutics stock traded down $0.02 during trading on Friday, hitting $10.11. 1,018,707 shares of the stock traded hands, compared to its average volume of 1,639,603. The stock has a market cap of $386.95 million, a price-to-earnings ratio of -2.16 and a beta of 1.49. The firm's fifty day moving average is $10.12 and its 200-day moving average is $8.16. iTeos Therapeutics has a 52 week low of $4.80 and a 52 week high of $18.13.

Insider Transactions at iTeos Therapeutics

In other news, major shareholder Bioventures 2018 L.P. Mpm sold 630,191 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $8.06, for a total transaction of $5,079,339.46. Following the transaction, the insider directly owned 2,108,594 shares in the company, valued at approximately $16,995,267.64. This represents a 23.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Hallal sold 38,228 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $10.24, for a total value of $391,454.72. The disclosure for this sale can be found here. Insiders have sold a total of 1,939,307 shares of company stock valued at $16,202,116 over the last 90 days. Company insiders own 12.50% of the company's stock.

Hedge Funds Weigh In On iTeos Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio bought a new position in iTeos Therapeutics during the 1st quarter worth approximately $31,000. Jane Street Group LLC grew its position in iTeos Therapeutics by 117.1% during the 1st quarter. Jane Street Group LLC now owns 21,438 shares of the company's stock worth $128,000 after acquiring an additional 147,107 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in iTeos Therapeutics during the 1st quarter worth approximately $67,000. Finally, AQR Capital Management LLC grew its position in iTeos Therapeutics by 88.6% during the 1st quarter. AQR Capital Management LLC now owns 226,210 shares of the company's stock worth $1,350,000 after acquiring an additional 106,260 shares during the last quarter. 97.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ITOS has been the topic of a number of recent research reports. Wedbush reissued an "outperform" rating and set a $10.50 price objective (down previously from $12.00) on shares of iTeos Therapeutics in a report on Monday, July 21st. Leerink Partners restated a "market perform" rating and issued a $9.00 target price (down from $47.00) on shares of iTeos Therapeutics in a research note on Wednesday, May 14th. Wells Fargo & Company decreased their target price on iTeos Therapeutics from $12.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lowered iTeos Therapeutics from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $15.00 to $8.00 in a research note on Tuesday, May 13th. Finally, HC Wainwright lowered iTeos Therapeutics from a "buy" rating to a "neutral" rating in a research note on Wednesday, May 14th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $15.50.

About iTeos Therapeutics

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.