IO Biotech (NASDAQ:IOBT) Receives “Buy” Rating from HC Wainwright

IO Biotech (NASDAQ:IOBT)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report released on Tuesday,Benzinga reports. They currently have a $12.00 price objective on the stock.

Separately, Piper Sandler upgraded shares of IO Biotech to a “strong-buy” rating in a research report on Wednesday, March 12th.

IO Biotech Stock Down 6.0 %

Shares of NASDAQ IOBT opened at $1.09 on Tuesday. The stock has a market capitalization of $71.81 million, a price-to-earnings ratio of -0.80 and a beta of 0.22. IO Biotech has a 52 week low of $0.66 and a 52 week high of $1.79. The firm has a 50-day moving average price of $0.96 and a 200 day moving average price of $0.97.

Institutional Investors Weigh In On IO Biotech

Several institutional investors and hedge funds have recently made changes to their positions in IOBT. Dauntless Investment Group LLC purchased a new position in IO Biotech during the 4th quarter valued at about $688,000. Landscape Capital Management L.L.C. purchased a new position in shares of IO Biotech during the 4th quarter worth approximately $407,000. Citadel Advisors LLC purchased a new position in shares of IO Biotech during the 4th quarter worth approximately $249,000. Renaissance Technologies LLC raised its position in shares of IO Biotech by 22.5% during the 4th quarter. Renaissance Technologies LLC now owns 118,800 shares of the company’s stock worth $109,000 after purchasing an additional 21,800 shares during the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in IO Biotech in the 4th quarter valued at approximately $30,000. 54.76% of the stock is currently owned by hedge funds and other institutional investors.

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.