HC Wainwright Initiates Coverage on IO Biotech (NASDAQ:IOBT)

Research analysts at HC Wainwright started coverage on shares of IO Biotech (NASDAQ:IOBTGet Rating) in a report released on Monday, The Fly reports. The firm set a “buy” rating on the stock.

IO Biotech Trading Up 3.3 %

IOBT opened at $2.62 on Monday. The stock has a fifty day simple moving average of $2.64 and a two-hundred day simple moving average of $3.80. IO Biotech has a 12-month low of $2.15 and a 12-month high of $12.58.

Hedge Funds Weigh In On IO Biotech

A number of institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC increased its holdings in shares of IO Biotech by 192.4% during the third quarter. Citadel Advisors LLC now owns 42,180 shares of the company’s stock valued at $114,000 after acquiring an additional 27,754 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of IO Biotech during the third quarter valued at $50,000. Psagot Value Holdings Ltd. Israel bought a new position in shares of IO Biotech during the third quarter valued at $111,000. Victory Capital Management Inc. bought a new position in shares of IO Biotech during the third quarter valued at $119,000. Finally, Jane Street Group LLC bought a new position in shares of IO Biotech during the first quarter valued at $76,000. Institutional investors own 53.64% of the company’s stock.

IO Biotech Company Profile

(Get Rating)

IO Biotech, Inc, a clinical-stage biopharmaceutical company, develops immune-modulating cancer therapies based on the T-win technology platform. The company's lead product candidate, IO102-IO103, which is designed to target immunosuppressive proteins, such as Indoleamine 2,3-dehydrogenase (IDO), and programmed death-ligand (PD-L1) that is in phase 2 clinical trial to treat melanoma, as well as in phase 1 clinical trial to treat lung, head and neck, bladder, and melanoma cancer.

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