iTeos Therapeutics (NASDAQ:ITOS) Cut to Hold at Piper Sandler

iTeos Therapeutics (NASDAQ:ITOS - Get Free Report) was downgraded by equities researchers at Piper Sandler from a "strong-buy" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the company. Wedbush reiterated an "outperform" rating and issued a $10.50 price objective (down from $12.00) on shares of iTeos Therapeutics in a research note on Monday, July 21st. Leerink Partnrs lowered iTeos Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. lowered 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 research note on Tuesday, May 13th. Raymond James Financial set a $12.00 price objective on iTeos Therapeutics in a research note on Wednesday, May 14th. Finally, Wells Fargo & Company reiterated an "equal weight" rating and issued a $12.00 target price (down previously from $13.00) on shares of iTeos Therapeutics in a research note on Wednesday, May 28th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, iTeos Therapeutics presently has a consensus rating of "Hold" and a consensus target price of $15.64.

iTeos Therapeutics Stock Performance

Shares of ITOS traded up $0.02 during trading hours on Monday, hitting $10.17. 1,048,505 shares of the company were exchanged, compared to its average volume of 1,411,017. The firm's 50 day moving average is $9.88 and its 200-day moving average is $8.00. The company has a market cap of $389.21 million, a PE ratio of -3.35 and a beta of 1.49. iTeos Therapeutics has a 52 week low of $4.80 and a 52 week high of $18.13.

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

Insider Activity at iTeos Therapeutics

In related news, Director David Hallal sold 38,228 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $10.24, for a total value of $391,454.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Bioventures 2018 L.P. Mpm sold 630,191 shares of the 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 sale, the insider owned 2,108,594 shares of the company's stock, valued at approximately $16,995,267.64. The trade was a 23.01% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,939,307 shares of company stock worth $16,202,116. Company insiders own 12.50% of the company's stock.

Institutional Trading of iTeos Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITOS. Raymond James Financial Inc. bought a new stake in iTeos Therapeutics in the fourth quarter valued at about $1,159,000. Virtu Financial LLC increased its stake in iTeos Therapeutics by 84.3% in the fourth quarter. Virtu Financial LLC now owns 18,493 shares of the company's stock valued at $142,000 after acquiring an additional 8,460 shares during the period. American Century Companies Inc. increased its stake in iTeos Therapeutics by 7.5% in the fourth quarter. American Century Companies Inc. now owns 67,937 shares of the company's stock valued at $522,000 after acquiring an additional 4,727 shares during the period. KLP Kapitalforvaltning AS bought a new stake in iTeos Therapeutics in the fourth quarter valued at about $299,000. Finally, Fox Run Management L.L.C. increased its stake in iTeos Therapeutics by 96.4% in the fourth quarter. Fox Run Management L.L.C. now owns 37,838 shares of the company's stock valued at $291,000 after acquiring an additional 18,575 shares during the period. Institutional investors own 97.16% of the company's stock.

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.