Q2 2024 EPS Estimates for IO Biotech, Inc. Raised by HC Wainwright (NASDAQ:IOBT)

IO Biotech, Inc. (NASDAQ:IOBT - Free Report) - Investment analysts at HC Wainwright increased their Q2 2024 earnings estimates for IO Biotech in a research note issued to investors on Wednesday, May 15th. HC Wainwright analyst E. Bodnar now expects that the company will post earnings of ($0.31) per share for the quarter, up from their prior forecast of ($0.41). HC Wainwright has a "Buy" rating and a $12.00 price objective on the stock. The consensus estimate for IO Biotech's current full-year earnings is ($1.41) per share. HC Wainwright also issued estimates for IO Biotech's Q3 2024 earnings at ($0.33) EPS, Q4 2024 earnings at ($0.35) EPS, FY2024 earnings at ($1.28) EPS, FY2025 earnings at ($0.99) EPS, FY2026 earnings at ($0.96) EPS and FY2027 earnings at ($0.78) EPS.

IO Biotech Trading Down 1.4 %

Shares of NASDAQ:IOBT traded down $0.02 during trading on Friday, reaching $1.38. 53,166 shares of the stock were exchanged, compared to its average volume of 127,919. IO Biotech has a 12 month low of $0.82 and a 12 month high of $2.28. The stock has a 50-day moving average price of $1.58 and a 200-day moving average price of $1.52. The firm has a market cap of $90.92 million, a PE ratio of -0.75 and a beta of 0.55.

IO Biotech (NASDAQ:IOBT - Get Free Report) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.04).

Insider Buying and Selling

In other IO Biotech news, major shareholder Holdings A/S Novo sold 658,809 shares of the company's stock in a transaction on Friday, May 10th. The stock was sold at an average price of $1.22, for a total value of $803,746.98. Following the transaction, the insider now directly owns 4,429,449 shares of the company's stock, valued at approximately $5,403,927.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.30% of the stock is currently owned by insiders.

Institutional Trading of IO Biotech

A number of institutional investors have recently bought and sold shares of the business. Vivo Capital LLC increased its holdings in shares of IO Biotech by 104.7% during the third quarter. Vivo Capital LLC now owns 6,173,439 shares of the company's stock worth $8,705,000 after purchasing an additional 3,157,894 shares during the period. PFM Health Sciences LP raised its holdings in IO Biotech by 73.0% in the 4th quarter. PFM Health Sciences LP now owns 2,341,107 shares of the company's stock valued at $4,401,000 after acquiring an additional 987,654 shares in the last quarter. Armistice Capital LLC bought a new stake in shares of IO Biotech during the 3rd quarter valued at $3,029,000. Finally, Stonepine Capital Management LLC acquired a new stake in shares of IO Biotech during the 3rd quarter worth $2,785,000. Institutional investors own 54.76% of the company's stock.

IO Biotech Company Profile

IO Biotech, Inc, a clinical-stage biopharmaceutical company, develops immune-modulating therapeutic cancer vaccines based on the T-win technology platform. The company's lead product candidate, IO102-IO103, which is designed to target immunosuppressive mechanisms mediated by Indoleamine 2,3-dehydrogenase (IDO), and programmed death-ligand (PD-L1) that is in phase 3 clinical trial to treat melanoma, as well as in phase 2 clinical trial to treat lung, head and neck, bladder, and melanoma cancer.