iTeos Therapeutics, Inc. (NASDAQ:ITOS) Sees Large Increase in Short Interest

iTeos Therapeutics, Inc. (NASDAQ:ITOS) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,830,000 shares, an increase of 33.6% from the March 15th total of 1,370,000 shares. Based on an average daily volume of 313,200 shares, the short-interest ratio is presently 5.8 days. Currently, 5.5% of the company’s stock are short sold.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price target on iTeos Therapeutics from $22.00 to $15.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Wells Fargo & Company cut their target price on iTeos Therapeutics from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. HC Wainwright reaffirmed a “buy” rating and set a $46.00 price target on shares of iTeos Therapeutics in a research note on Thursday, March 6th. Finally, Wedbush reissued an “outperform” rating and issued a $25.00 price objective on shares of iTeos Therapeutics in a research report on Wednesday, March 5th.

iTeos Therapeutics Stock Performance

iTeos Therapeutics stock opened at $6.51 on Monday. The stock has a 50-day simple moving average of $6.61 and a 200 day simple moving average of $7.68. The stock has a market capitalization of $248.64 million, a P/E ratio of -2.07 and a beta of 1.43. iTeos Therapeutics has a 52 week low of $4.80 and a 52 week high of $18.75.

iTeos Therapeutics (NASDAQ:ITOS) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($1.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.13. Research analysts forecast that iTeos Therapeutics will post -3.49 earnings per share for the current year.

Institutional Trading of iTeos Therapeutics

A number of hedge funds have recently modified their holdings of the stock. BVF Inc. IL acquired a new stake in iTeos Therapeutics during the fourth quarter worth approximately $17,856,000. JPMorgan Chase & Co. lifted its holdings in iTeos Therapeutics by 342.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,068,796 shares of the company’s stock worth $15,888,000 after purchasing an additional 1,601,477 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in iTeos Therapeutics by 15.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,210,080 shares of the company’s stock valued at $9,293,000 after purchasing an additional 163,880 shares during the period. State Street Corp grew its holdings in iTeos Therapeutics by 21.9% in the 3rd quarter. State Street Corp now owns 1,175,353 shares of the company’s stock valued at $12,000,000 after buying an additional 211,452 shares in the last quarter. Finally, Boxer Capital Management LLC bought a new position in iTeos Therapeutics during the 4th quarter worth $7,272,000. Institutional investors and hedge funds own 97.16% of the company’s stock.

About iTeos Therapeutics

iTeos Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the discovery and development of a new generation of immuno-oncology therapeutics for people living with cancer. Its pipeline includes EOS-448, Inupadenant, and EOS-984. The company was founded by Michel Detheux in April 2012 and is headquartered in Watertown, MA.