Piper Sandler Downgrades iTeos Therapeutics (NASDAQ:ITOS) to Hold

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 to clients and investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. Wedbush reaffirmed an "outperform" rating and issued a $10.50 target price (down from $12.00) on shares of iTeos Therapeutics in a report on Monday. JPMorgan Chase & Co. downgraded shares of iTeos Therapeutics from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $15.00 to $8.00 in a research report on Tuesday, May 13th. Leerink Partners restated a "market perform" rating and set a $9.00 price objective (down previously from $47.00) on shares of iTeos Therapeutics in a report on Wednesday, May 14th. Raymond James Financial set a $12.00 price objective on iTeos Therapeutics in a research note on Wednesday, May 14th. Finally, Leerink Partnrs lowered iTeos Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $15.64.

iTeos Therapeutics Stock Down 0.1%

Shares of iTeos Therapeutics stock opened at $10.12 on Monday. iTeos Therapeutics has a 12-month low of $4.80 and a 12-month high of $18.13. The stock has a market capitalization of $387.29 million, a P/E ratio of -3.33 and a beta of 1.49. The company has a 50-day simple moving average of $9.63 and a 200 day simple moving average of $7.93.

iTeos Therapeutics (NASDAQ:ITOS - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.94) by $0.14. On average, equities analysts anticipate that iTeos Therapeutics will post -3.49 earnings per share for the current year.

Insider Activity

In related news, Director David Hallal sold 38,228 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $10.24, for a total transaction of $391,454.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Bioventures 2018 L.P. Mpm sold 630,191 shares of iTeos Therapeutics stock in a transaction that occurred 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 completion of the sale, the insider directly owned 2,108,594 shares in the company, valued at $16,995,267.64. This trade represents a 23.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,939,307 shares of company stock worth $16,202,116 in the last three months. Company insiders own 12.50% of the company's stock.

Institutional Trading of iTeos Therapeutics

A number of institutional investors have recently added to or reduced their stakes in ITOS. Strs Ohio purchased a new position in iTeos Therapeutics in the first quarter worth $31,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of iTeos Therapeutics during the fourth quarter worth about $42,000. CWM LLC boosted its holdings in shares of iTeos Therapeutics by 428.7% during 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 bought a new position in iTeos Therapeutics in the first quarter worth about $65,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in iTeos Therapeutics in the first quarter worth about $67,000. Hedge funds and other institutional investors own 97.16% of the company's stock.

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.

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