iTeos Therapeutics (NASDAQ:ITOS) Price Target Lowered to $19.00 at Wells Fargo & Company

iTeos Therapeutics (NASDAQ:ITOS) had its price target reduced by Wells Fargo & Company from $31.00 to $19.00 in a research report sent to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on ITOS. Wedbush reiterated an “outperform” rating and set a $25.00 target price on shares of iTeos Therapeutics in a research report on Thursday, December 12th. HC Wainwright reiterated a “buy” rating and set a $21.00 target price on shares of iTeos Therapeutics in a research report on Friday, December 13th.

iTeos Therapeutics Price Performance

Shares of ITOS stock traded up $0.06 on Thursday, hitting $7.28. The company’s stock had a trading volume of 306,877 shares, compared to its average volume of 443,822. iTeos Therapeutics has a fifty-two week low of $7.09 and a fifty-two week high of $18.75. The firm’s fifty day moving average price is $8.59 and its 200-day moving average price is $12.71. The stock has a market capitalization of $265.97 million, a price-to-earnings ratio of -2.31 and a beta of 1.37.

iTeos Therapeutics (NASDAQ:ITOS) last announced its earnings results on Tuesday, November 12th. The company reported ($1.05) EPS for the quarter, topping the consensus estimate of ($1.18) by $0.13. Analysts predict that iTeos Therapeutics will post -3.46 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Matthew Gall bought 5,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was purchased at an average price of $7.73 per share, with a total value of $38,650.00. Following the completion of the purchase, the chief financial officer now owns 65,429 shares of the company’s stock, valued at approximately $505,766.17. This trade represents a 8.27 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 12.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. nVerses Capital LLC lifted its stake in iTeos Therapeutics by 212.5% in the third quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $26,000 after acquiring an additional 1,700 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in iTeos Therapeutics in the third quarter valued at $31,000. China Universal Asset Management Co. Ltd. lifted its stake in iTeos Therapeutics by 60.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,024 shares of the company’s stock valued at $72,000 after acquiring an additional 2,646 shares during the last quarter. Virtu Financial LLC acquired a new stake in iTeos Therapeutics in the third quarter valued at $102,000. Finally, Quest Partners LLC lifted its stake in shares of iTeos Therapeutics by 914.7% during the 3rd quarter. Quest Partners LLC now owns 11,020 shares of the company’s stock worth $113,000 after buying an additional 9,934 shares during the last quarter. Institutional investors and hedge funds own 97.16% of the company’s stock.

About iTeos Therapeutics

Iteos Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of immuno-oncology therapeutics for patients with cancer. The company's lead antibody product candidate, belrestotug, an antagonist of TIGIT or T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial, as well as used to engage the Fc gamma receptor, or Fc?R to activate dendritic cells, natural killer cells, and macrophages and to promote antibody-dependent cellular cytotoxicity, or ADCC activity.