iTeos Therapeutics (NASDAQ:ITOS) Upgraded to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen has downgraded iTeos Therapeutics (NASDAQ:ITOS) to a "sell" rating, following several other analysts who have lowered their ratings and price targets.
• The stock opened at $10.23 and has a market cap of $452.45 million, with a 52-week range of $4.80 to $17.63.
• In recent insider trading, key executives sold significant shares, with CEO Michel Detheux reporting a 22.19% decrease in ownership after selling high amounts of stock.

Wall Street Zen upgraded shares of iTeos Therapeutics (NASDAQ:ITOS - Free Report) to a sell rating in a research note published on Saturday morning.

A number of other equities analysts have also issued reports on the company. Wells Fargo & Company lowered their price target on iTeos Therapeutics from $12.00 to $11.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. Leerink Partnrs cut shares of iTeos Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Raymond James Financial set a $12.00 target price on iTeos Therapeutics in a report on Wednesday, May 14th. Leerink Partners restated a "market perform" rating and set a $9.00 target price (down previously from $47.00) on shares of iTeos Therapeutics in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. lowered shares of iTeos Therapeutics from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $15.00 to $8.00 in a research report on Tuesday, May 13th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $15.50.

iTeos Therapeutics Price Performance

Shares of iTeos Therapeutics stock remained flat at $10.15 on Friday. The company has a market cap of $448.73 million, a PE ratio of -2.17 and a beta of 1.31. iTeos Therapeutics has a 52-week low of $4.80 and a 52-week high of $17.63. The business has a 50-day moving average price of $10.15 and a 200-day moving average price of $8.50.

iTeos Therapeutics (NASDAQ:ITOS - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($1.51) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.39). Equities research analysts expect 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 company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $10.24, for a total transaction of $391,454.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michel Detheux sold 43,883 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $10.02, for a total transaction of $439,707.66. Following the transaction, the chief executive officer directly owned 153,903 shares in the company, valued at approximately $1,542,108.06. This represents a 22.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 186,675 shares of company stock worth $1,889,350. Insiders own 14.20% of the company's stock.

Institutional Trading of iTeos Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in ITOS. Strs Ohio acquired a new position in iTeos Therapeutics in the first quarter valued at $31,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in iTeos Therapeutics during the fourth quarter valued at approximately $42,000. CWM LLC lifted its holdings in shares of iTeos Therapeutics by 428.7% during the 1st quarter. CWM LLC now owns 8,554 shares of the company's stock valued at $51,000 after acquiring an additional 6,936 shares in the last quarter. Paloma Partners Management Co purchased a new stake in iTeos Therapeutics during the 1st quarter worth $65,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in iTeos Therapeutics in the 1st quarter valued at $67,000. 97.16% of the stock is currently owned by institutional investors and hedge funds.

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.