HC Wainwright Reaffirms Buy Rating for IO Biotech (NASDAQ:IOBT)

HC Wainwright reissued their buy rating on shares of IO Biotech (NASDAQ:IOBT) in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a $12.00 price target on the stock. HC Wainwright also issued estimates for IO Biotech’s Q4 2024 earnings at ($0.39) EPS, FY2024 earnings at ($1.36) EPS, FY2025 earnings at ($1.03) EPS, FY2026 earnings at ($0.88) EPS, FY2027 earnings at ($0.59) EPS and FY2028 earnings at ($0.27) EPS.

Other equities analysts also recently issued reports about the company. Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 price target on shares of IO Biotech in a report on Tuesday, September 3rd. Morgan Stanley upped their target price on shares of IO Biotech from $4.00 to $6.00 and gave the company an “overweight” rating in a report on Monday, September 16th.

IO Biotech Trading Down 7.9 %

IO Biotech stock opened at $0.82 on Tuesday. The stock has a market cap of $54.02 million, a P/E ratio of -0.60 and a beta of 0.42. The company has a fifty day simple moving average of $1.09 and a 200-day simple moving average of $1.25. IO Biotech has a 12-month low of $0.73 and a 12-month high of $2.10.

IO Biotech (NASDAQ:IOBT) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.07). As a group, sell-side analysts forecast that IO Biotech will post -1.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IO Biotech

A hedge fund recently raised its stake in IO Biotech stock. XTX Topco Ltd boosted its holdings in IO Biotech, Inc. (NASDAQ:IOBT) by 67.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,555 shares of the company’s stock after purchasing an additional 10,688 shares during the quarter. XTX Topco Ltd’s holdings in IO Biotech were worth $31,000 at the end of the most recent quarter. Institutional investors and hedge funds own 54.76% of the company’s stock.

IO Biotech Company 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.