Jacobs Levy Equity Management Inc. Acquires 716,271 Shares of iTeos Therapeutics, Inc. (NASDAQ:ITOS)

Jacobs Levy Equity Management Inc. raised its position in iTeos Therapeutics, Inc. (NASDAQ:ITOS - Free Report) by 347.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 922,134 shares of the company's stock after acquiring an additional 716,271 shares during the period. Jacobs Levy Equity Management Inc. owned about 2.52% of iTeos Therapeutics worth $7,082,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Virtus ETF Advisers LLC raised its holdings in shares of iTeos Therapeutics by 58.2% in the 4th quarter. Virtus ETF Advisers LLC now owns 8,948 shares of the company's stock worth $69,000 after buying an additional 3,293 shares in the last quarter. Forefront Analytics LLC bought a new position in shares of iTeos Therapeutics during the fourth quarter valued at $85,000. Graham Capital Management L.P. acquired a new stake in shares of iTeos Therapeutics in the 4th quarter valued at $85,000. Clear Harbor Asset Management LLC acquired a new stake in shares of iTeos Therapeutics in the 4th quarter valued at $96,000. Finally, SG Americas Securities LLC grew its holdings in shares of iTeos Therapeutics by 12.2% in the 4th quarter. SG Americas Securities LLC now owns 13,866 shares of the company's stock worth $106,000 after purchasing an additional 1,508 shares during the last quarter. Institutional investors own 97.16% of the company's stock.

iTeos Therapeutics Stock Performance

iTeos Therapeutics stock traded up $0.44 during trading hours on Monday, reaching $8.25. 759,937 shares of the company's stock traded hands, compared to its average volume of 547,737. The firm has a market capitalization of $315.57 million, a price-to-earnings ratio of -2.63 and a beta of 1.39. iTeos Therapeutics, Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $18.70. The firm's 50 day moving average is $6.61 and its 200-day moving average is $7.40.

iTeos Therapeutics (NASDAQ:ITOS - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.14. Analysts predict that iTeos Therapeutics, Inc. will post -3.49 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ITOS shares. Leerink Partnrs downgraded shares of iTeos Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. cut shares of iTeos Therapeutics from an "overweight" rating to a "neutral" rating and cut their target price for the company from $15.00 to $8.00 in a research note on Tuesday, May 13th. Piper Sandler restated an "overweight" rating and set a $12.00 price target (down from $16.00) on shares of iTeos Therapeutics in a research report on Wednesday, May 14th. Leerink Partners reiterated a "market perform" rating and issued a $9.00 price objective (down previously from $47.00) on shares of iTeos Therapeutics in a research report on Wednesday, May 14th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $13.00 price objective (down previously from $16.00) on shares of iTeos Therapeutics in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, iTeos Therapeutics currently has an average rating of "Hold" and a consensus target price of $17.86.

Insider Buying and Selling

In other iTeos Therapeutics news, major shareholder Bioventures 2018 L.P. Mpm sold 630,191 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $8.06, for a total value of $5,079,339.46. Following the completion of the sale, the insider now owns 2,108,594 shares of the company's stock, valued at approximately $16,995,267.64. This represents a 23.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ansbert Gadicke sold 1,031,931 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $8.06, for a total transaction of $8,317,363.86. Following the completion of the sale, the insider now owns 3,452,797 shares in the company, valued at approximately $27,829,543.82. This trade represents 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.

iTeos Therapeutics 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.