Leerink Partners Reiterates Market Perform Rating for iTeos Therapeutics (NASDAQ:ITOS)

iTeos Therapeutics (NASDAQ:ITOS - Get Free Report)'s stock had its "market perform" rating restated by equities research analysts at Leerink Partners in a research report issued on Wednesday, MarketBeat.com reports. They currently have a $9.00 price objective on the stock, down from their previous price objective of $47.00. Leerink Partners' price objective suggests a potential upside of 5.62% from the stock's previous close.

Several other research analysts have also recently weighed in on the company. HC Wainwright reissued a "buy" rating and issued a $46.00 price objective on shares of iTeos Therapeutics in a research report on Thursday, March 6th. JPMorgan Chase & Co. cut iTeos Therapeutics from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $15.00 to $8.00 in a report on Tuesday, May 13th. Wedbush reaffirmed an "outperform" rating and issued a $25.00 price target on shares of iTeos Therapeutics in a report on Wednesday, March 5th. Finally, Wells Fargo & Company cut their target price on shares of iTeos Therapeutics from $17.00 to $16.00 and set an "overweight" rating for the company in a research report on Tuesday, April 29th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, iTeos Therapeutics has an average rating of "Hold" and an average target price of $17.86.

iTeos Therapeutics Price Performance

Shares of ITOS traded up $0.71 during trading hours on Wednesday, hitting $8.52. The stock had a trading volume of 1,100,228 shares, compared to its average volume of 601,094. The firm has a market capitalization of $326.13 million, a P/E ratio of -2.71 and a beta of 1.39. iTeos Therapeutics has a 1-year low of $4.80 and a 1-year high of $18.70. The firm has a 50 day simple moving average of $6.61 and a 200-day simple moving average of $7.40.

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

Insider Activity

In other 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 shares were sold at an average price of $8.06, for a total transaction of $5,079,339.46. Following the completion of the transaction, the insider now directly 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 legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ansbert Gadicke sold 1,031,931 shares of the business'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 $8,317,363.86. Following the transaction, the insider now directly owns 3,452,797 shares in the company, valued at $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. Insiders own 12.50% of the company's stock.

Hedge Funds Weigh In On iTeos Therapeutics

Several hedge funds have recently made changes to their positions in ITOS. Point72 Asia Singapore Pte. Ltd. purchased a new stake in iTeos Therapeutics in the fourth quarter worth $42,000. CWM LLC grew its holdings in iTeos Therapeutics by 428.7% in the first quarter. CWM LLC now owns 8,554 shares of the company's stock worth $51,000 after purchasing an additional 6,936 shares during the period. Paloma Partners Management Co purchased a new stake in iTeos Therapeutics in the first quarter worth about $65,000. Dynamic Technology Lab Private Ltd purchased a new stake in iTeos Therapeutics in the first quarter worth about $67,000. Finally, Virtus ETF Advisers LLC grew its stake in shares of iTeos Therapeutics by 58.2% in the fourth quarter. Virtus ETF Advisers LLC now owns 8,948 shares of the company's stock worth $69,000 after acquiring an additional 3,293 shares during the last quarter. 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.