Analysts Issue Forecasts for IO Biotech, Inc.’s FY2027 Earnings (NASDAQ:IOBT)

IO Biotech, Inc. (NASDAQ:IOBT – Get Rating) – Investment analysts at HC Wainwright issued their FY2027 earnings estimates for IO Biotech in a report issued on Wednesday, March 15th. HC Wainwright analyst E. Bodnar expects that the company will earn ($0.79) per share for the year. HC Wainwright currently has a “Buy” rating and a $10.00 price target on the stock. The consensus estimate for IO Biotech’s current full-year earnings is ($2.66) per share.

Separately, Morgan Stanley cut their target price on shares of IO Biotech from $15.00 to $11.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 24th.

IO Biotech Stock Performance

IOBT stock opened at $2.20 on Thursday. The company’s 50 day moving average price is $2.61 and its 200 day moving average price is $2.69. IO Biotech has a fifty-two week low of $2.15 and a fifty-two week high of $9.77.

Hedge Funds Weigh In On IO Biotech

Several hedge funds have recently added to or reduced their stakes in IOBT. Ergoteles LLC purchased a new position in IO Biotech in the first quarter valued at approximately $59,000. Jane Street Group LLC purchased a new position in IO Biotech in the first quarter valued at approximately $76,000. Victory Capital Management Inc. purchased a new position in IO Biotech in the third quarter valued at approximately $119,000. Psagot Value Holdings Ltd. Israel purchased a new position in IO Biotech in the third quarter valued at approximately $111,000. Finally, Renaissance Technologies LLC purchased a new position in IO Biotech in the third quarter valued at approximately $50,000. 53.23% of the stock is currently owned by hedge funds and other institutional investors.

About IO Biotech

(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.