iTeos Therapeutics (NASDAQ:ITOS) Announces Quarterly Earnings Results, Misses Expectations By $0.39 EPS

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) posted its quarterly earnings results on Wednesday. The company reported ($1.51) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.39), Zacks reports.

iTeos Therapeutics Price Performance

iTeos Therapeutics stock traded down $0.01 during mid-day trading on Tuesday, reaching $10.11. 973,933 shares of the company traded hands, compared to its average volume of 934,942. The firm's 50 day moving average price is $10.12 and its 200 day moving average price is $8.18. The firm has a market capitalization of $446.74 million, a price-to-earnings ratio of -2.16 and a beta of 1.49. iTeos Therapeutics has a 52-week low of $4.80 and a 52-week high of $18.13.

Analyst Ratings Changes

Several research analysts have commented on the stock. HC Wainwright downgraded shares of iTeos Therapeutics from a "buy" rating to a "neutral" rating in a research note on Wednesday, May 14th. Leerink Partnrs downgraded shares of iTeos Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Piper Sandler downgraded shares of iTeos Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 21st. Raymond James Financial set a $12.00 target price on shares of iTeos Therapeutics in a research note on Wednesday, May 14th. Finally, Wells Fargo & Company decreased their target price on shares of iTeos Therapeutics from $12.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 7th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, iTeos Therapeutics currently has an average rating of "Hold" and a consensus price target of $15.50.

Insiders Place Their Bets

In other iTeos Therapeutics news, CEO Michel Detheux sold 43,883 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $10.02, for a total transaction of $439,707.66. Following the transaction, the chief executive officer directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Hallal sold 38,228 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $10.24, for a total transaction of $391,454.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 277,185 shares of company stock worth $2,805,412. Insiders own 14.20% of the company's stock.

Institutional Trading of iTeos Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC boosted its stake in iTeos Therapeutics by 117.1% during the first 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 in the last quarter. 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 valued at $1,350,000 after purchasing an additional 106,260 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in iTeos Therapeutics during the 1st quarter valued at about $67,000. Rhumbline Advisers grew its position in iTeos Therapeutics by 12.4% during the 2nd quarter. Rhumbline Advisers now owns 48,882 shares of the company's stock valued at $487,000 after purchasing an additional 5,398 shares during the last quarter. Finally, Strs Ohio purchased a new stake in iTeos Therapeutics during the 1st quarter valued at about $31,000. 97.16% of the stock is owned by hedge funds and other institutional investors.

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.