Novo Holdings A S trimmed its position in shares of IO Biotech, Inc. (NASDAQ:IOBT – Free Report) by 24.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,354,449 shares of the company’s stock after selling 1,075,000 shares during the quarter. Novo Holdings A S owned approximately 5.09% of IO Biotech worth $3,522,000 as of its most recent SEC filing.
Separately, XTX Topco Ltd increased its position in IO Biotech by 67.4% in the 2nd quarter. XTX Topco Ltd now owns 26,555 shares of the company’s stock valued at $31,000 after acquiring an additional 10,688 shares during the period. Institutional investors and hedge funds own 54.76% of the company’s stock.
IO Biotech Stock Down 0.8 %
Shares of NASDAQ IOBT opened at $1.21 on Friday. IO Biotech, Inc. has a 12-month low of $0.73 and a 12-month high of $2.10. The firm has a market cap of $79.72 million, a PE ratio of -0.65 and a beta of 0.46. The company’s fifty day simple moving average is $1.17 and its 200 day simple moving average is $1.29.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the company. Morgan Stanley increased their price objective on IO Biotech from $4.00 to $6.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Piper Sandler reissued an “overweight” rating and set a $10.00 target price on shares of IO Biotech in a research note on Tuesday, September 3rd. Finally, HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of IO Biotech in a research note on Monday, September 16th.
Get Our Latest Report on IO Biotech
IO Biotech Profile
IO Biotech, Inc, a clinical-stage biopharmaceutical company, develops immune-modulating therapeutic cancer vaccines based on the T-win technology platform. The company's lead product candidate, IO102-IO103, which is designed to target immunosuppressive mechanisms mediated by 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 2 clinical trial to treat lung, head and neck, bladder, and melanoma cancer.
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