Wedbush Reaffirms Outperform Rating for iTeos Therapeutics (NASDAQ:ITOS)

iTeos Therapeutics (NASDAQ:ITOS - Get Free Report)'s stock had its "outperform" rating reaffirmed by analysts at Wedbush in a note issued to investors on Monday,RTT News reports. They currently have a $10.50 target price on the stock, down from their prior target price of $12.00. Wedbush's price target indicates a potential upside of 3.65% from the company's previous close.

A number of other research analysts have also weighed in on ITOS. HC Wainwright lowered shares of iTeos Therapeutics from a "buy" rating to a "neutral" rating in a report on Wednesday, May 14th. Piper Sandler reissued an "overweight" rating and issued a $12.00 target price (down from $16.00) on shares of iTeos Therapeutics in a report on Wednesday, May 14th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $12.00 price objective (down from $13.00) on shares of iTeos Therapeutics in a research note on Wednesday, May 28th. JPMorgan Chase & Co. lowered shares of 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. Finally, Raymond James Financial set a $12.00 price objective on shares of iTeos Therapeutics in a research note on Wednesday, May 14th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, iTeos Therapeutics presently has a consensus rating of "Hold" and an average price target of $15.64.

iTeos Therapeutics Stock Performance

Shares of NASDAQ ITOS traded down $0.13 during midday trading on Monday, hitting $10.13. 13,073,257 shares of the company's stock traded hands, compared to its average volume of 757,826. The firm has a fifty day moving average of $9.63 and a 200 day moving average of $7.93. iTeos Therapeutics has a 1 year low of $4.80 and a 1 year high of $18.13. The stock has a market capitalization of $387.68 million, a price-to-earnings ratio of -3.33 and a beta of 1.49.

iTeos Therapeutics (NASDAQ:ITOS - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The company reported ($0.80) earnings per share 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 at iTeos Therapeutics

In other iTeos Therapeutics news, major shareholder Bioventures 2018 L.P. Mpm sold 630,191 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $8.06, for a total value of $5,079,339.46. Following the transaction, the insider owned 2,108,594 shares in the company, valued at approximately $16,995,267.64. This trade represents a 23.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michel Detheux sold 43,883 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $10.02, for a total value of $439,707.66. Following the completion of the transaction, the chief executive officer owned 153,903 shares in the company, valued at $1,542,108.06. The trade was a 22.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,939,307 shares of company stock valued at $16,202,116. 12.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Strs Ohio acquired a new stake in shares of iTeos Therapeutics during the 1st quarter worth about $31,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of iTeos Therapeutics during the 4th quarter worth about $42,000. CWM LLC increased its position in shares of iTeos Therapeutics by 428.7% during the 1st 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 last quarter. Paloma Partners Management Co acquired a new position in iTeos Therapeutics in the 1st quarter valued at about $65,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in iTeos Therapeutics in the 1st quarter valued at 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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