IO Biotech, Inc. (NASDAQ:IOBT – Free Report) – Research analysts at HC Wainwright boosted their FY2023 earnings estimates for IO Biotech in a research report issued to clients and investors on Tuesday, November 14th. HC Wainwright analyst E. Bodnar now anticipates that the company will earn ($2.10) per share for the year, up from their previous estimate of ($3.15). HC Wainwright currently has a “Buy” rating and a $8.00 target price on the stock. The consensus estimate for IO Biotech’s current full-year earnings is ($2.08) per share. HC Wainwright also issued estimates for IO Biotech’s Q4 2023 earnings at ($0.36) EPS, FY2024 earnings at ($2.68) EPS, FY2025 earnings at ($1.54) EPS and FY2026 earnings at ($1.04) EPS.
Several other equities analysts have also commented on the stock. Piper Sandler assumed coverage on shares of IO Biotech in a research report on Thursday, September 28th. They set an “overweight” rating and a $10.00 price target for the company. Morgan Stanley reduced their price objective on shares of IO Biotech from $11.00 to $7.00 and set an “overweight” rating for the company in a research report on Tuesday, August 15th.
IO Biotech Stock Performance
IO Biotech stock opened at $0.98 on Thursday. The company has a 50-day simple moving average of $1.21 and a 200-day simple moving average of $1.68. The firm has a market capitalization of $64.56 million, a P/E ratio of -0.40 and a beta of -0.39. IO Biotech has a one year low of $0.82 and a one year high of $3.52.
Institutional Trading of IO Biotech
A number of hedge funds have recently made changes to their positions in IOBT. Two Sigma Securities LLC purchased a new stake in shares of IO Biotech in the second quarter worth approximately $25,000. Renaissance Technologies LLC acquired a new position in IO Biotech during the third quarter valued at approximately $50,000. Ergoteles LLC acquired a new stake in shares of IO Biotech in the first quarter worth $59,000. Morgan Stanley grew its stake in shares of IO Biotech by 31.7% in the fourth quarter. Morgan Stanley now owns 29,060 shares of the company’s stock worth $67,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of IO Biotech in the first quarter worth $76,000.
IO Biotech Company Profile
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 3 clinical trial to treat melanoma, as well as in phase 1 clinical trial to treat lung, head and neck, bladder, and melanoma cancer.
- Five stocks we like better than IO Biotech
- What is a Secondary Public Offering? What Investors Need to Know
- Buffett’s latest portfolio additions, trims, and cuts in Q3
- How to Invest in Blockchain Stocks Step by Step
- 5 reasons TJX Companies will hit new highs in 2024
- Best Aerospace Stocks Investing
- Game-changing news for Ambarella puts the market in reversal
Receive News & Ratings for IO Biotech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IO Biotech and related companies with MarketBeat.com's FREE daily email newsletter.