HC Wainwright reiterated their buy rating on shares of IO Biotech (NASDAQ:IOBT – Free Report) in a research report report published on Wednesday,Benzinga reports. They currently have a $12.00 price objective on the stock.
IO Biotech Stock Down 1.6 %
NASDAQ IOBT opened at $0.90 on Wednesday. The stock has a market cap of $59.29 million, a P/E ratio of -0.66 and a beta of 0.24. The company’s 50-day simple moving average is $0.93 and its 200 day simple moving average is $1.01. IO Biotech has a twelve month low of $0.66 and a twelve month high of $1.85.
Hedge Funds Weigh In On IO Biotech
A number of institutional investors and hedge funds have recently added to or reduced their stakes in IOBT. Vontobel Holding Ltd. acquired a new position in IO Biotech in the fourth quarter valued at about $30,000. Landscape Capital Management L.L.C. acquired a new position in IO Biotech in the fourth quarter valued at about $407,000. Renaissance Technologies LLC boosted its position in IO Biotech by 22.5% in the fourth quarter. Renaissance Technologies LLC now owns 118,800 shares of the company’s stock valued at $109,000 after buying an additional 21,800 shares in the last quarter. XTX Topco Ltd acquired a new position in IO Biotech in the fourth quarter valued at about $26,000. Finally, Dauntless Investment Group LLC acquired a new position in IO Biotech in the fourth quarter valued at about $688,000. 54.76% of the stock is currently owned by institutional investors and hedge funds.
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.
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