Wall Street Zen upgraded shares of IO Biotech (NASDAQ:IOBT - Free Report) to a sell rating in a research note published on Saturday morning.
Other equities research analysts have also recently issued research reports about the company. Piper Sandler upgraded IO Biotech to a "strong-buy" rating in a research note on Wednesday, March 12th. HC Wainwright restated a "buy" rating on shares of IO Biotech in a research note on Wednesday, May 14th.
View Our Latest Report on IO Biotech
IO Biotech Price Performance
Shares of IOBT remained flat at $1.32 during midday trading on Friday. The stock had a trading volume of 110,670 shares, compared to its average volume of 282,493. The company has a 50-day moving average price of $1.12 and a 200-day moving average price of $0.99. The firm has a market capitalization of $86.96 million, a price-to-earnings ratio of -0.96 and a beta of 0.36. IO Biotech has a fifty-two week low of $0.66 and a fifty-two week high of $1.73.
Institutional Investors Weigh In On IO Biotech
A number of institutional investors and hedge funds have recently added to or reduced their stakes in IOBT. Jane Street Group LLC purchased a new stake in IO Biotech in the first quarter valued at approximately $26,000. XTX Topco Ltd purchased a new stake in IO Biotech in the fourth quarter valued at approximately $26,000. Vontobel Holding Ltd. purchased a new stake in IO Biotech in the fourth quarter valued at approximately $30,000. Renaissance Technologies LLC lifted its stake in IO Biotech by 22.5% in the fourth quarter. Renaissance Technologies LLC now owns 118,800 shares of the company's stock valued at $109,000 after buying an additional 21,800 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in IO Biotech in the fourth quarter valued at approximately $249,000. Hedge funds and other institutional investors own 54.76% of the company's stock.
IO Biotech Company Profile
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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.
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