iTeos Therapeutics (NASDAQ:ITOS) Stock Rating Lowered by Wedbush

iTeos Therapeutics (NASDAQ:ITOS - Get Free Report) was downgraded by analysts at Wedbush from an "outperform" rating to a "neutral" rating in a research report issued on Wednesday, MarketBeat.com reports. They currently have a $12.00 target price on the stock, up from their previous target price of $10.00. Wedbush's target price suggests a potential upside of 19.64% from the stock's previous close.

Several other research firms have also recently issued reports on ITOS. Raymond James set a $12.00 price objective on shares of iTeos Therapeutics in a research report on Wednesday, May 14th. Wells Fargo & Company reiterated an "overweight" rating and set a $13.00 price objective (down previously from $16.00) on shares of iTeos Therapeutics in a research report on Wednesday, May 14th. Leerink Partners reiterated a "market perform" rating and set a $9.00 price objective (down previously from $47.00) on shares of iTeos Therapeutics in a research report on Wednesday, May 14th. Leerink Partnrs cut shares of iTeos Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Piper Sandler restated an "overweight" rating and issued a $12.00 price target (down previously from $16.00) on shares of iTeos Therapeutics in a research report 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 company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $15.86.

iTeos Therapeutics Trading Down 0.3%

NASDAQ ITOS traded down $0.03 on Wednesday, reaching $10.03. 3,770,303 shares of the stock were exchanged, compared to its average volume of 637,758. iTeos Therapeutics has a one year low of $4.80 and a one year high of $18.13. The firm has a market capitalization of $383.89 million, a PE ratio of -3.18 and a beta of 1.39. The company's 50-day simple moving average is $6.92 and its two-hundred day simple moving average is $7.40.

iTeos Therapeutics (NASDAQ:ITOS - Get Free Report) last released its earnings results on Monday, April 28th. The company reported ($0.80) EPS for the quarter, topping analysts' consensus estimates of ($0.94) by $0.14. Sell-side analysts forecast that iTeos Therapeutics will post -3.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other iTeos Therapeutics news, major shareholder Ansbert Gadicke sold 1,031,931 shares of iTeos Therapeutics stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $8.06, for a total transaction of $8,317,363.86. Following the completion of the transaction, the insider now directly owns 3,452,797 shares of the company's stock, valued at $27,829,543.82. The trade was a 23.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Bioventures 2018 L.P. Mpm sold 630,191 shares of iTeos Therapeutics stock in a transaction on 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 now directly owns 2,108,594 shares of the company's stock, valued at $16,995,267.64. 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 currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ITOS. Strs Ohio purchased a new position in iTeos Therapeutics during the first quarter worth $31,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in iTeos Therapeutics during the fourth quarter worth $42,000. CWM LLC boosted its stake in shares of iTeos Therapeutics by 428.7% during the first quarter. CWM LLC now owns 8,554 shares of the company's stock valued at $51,000 after purchasing an additional 6,936 shares during the period. Paloma Partners Management Co purchased a new stake in shares of iTeos Therapeutics during the first quarter valued at $65,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of iTeos Therapeutics during the first quarter valued at $67,000. 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.