Brokerages Set IO Biotech, Inc. (NASDAQ:IOBT) PT at $6.33

IO Biotech, Inc. (NASDAQ:IOBT) has been assigned an average rating of “Hold” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $6.3333.

IOBT has been the topic of a number of research analyst reports. Cowen lowered IO Biotech to a “hold” rating in a research report on Tuesday, September 30th. Piper Sandler cut their target price on IO Biotech from $10.00 to $3.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IO Biotech in a research report on Tuesday, October 14th. TD Cowen reaffirmed a “hold” rating on shares of IO Biotech in a research report on Tuesday, September 30th. Finally, Morgan Stanley lowered IO Biotech from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, September 30th.

Hedge Funds Weigh In On IO Biotech

Large investors have recently bought and sold shares of the business. Marex Group plc acquired a new position in IO Biotech in the second quarter valued at $63,000. NewEdge Advisors LLC acquired a new position in IO Biotech in the second quarter valued at $34,000. Jane Street Group LLC acquired a new position in IO Biotech in the first quarter valued at $26,000. Finally, XTX Topco Ltd boosted its stake in IO Biotech by 80.0% in the first quarter. XTX Topco Ltd now owns 50,486 shares of the company’s stock valued at $55,000 after acquiring an additional 22,446 shares in the last quarter. Hedge funds and other institutional investors own 54.76% of the company’s stock.

IO Biotech Stock Down 9.1%

Shares of IO Biotech stock opened at $0.91 on Friday. The company has a debt-to-equity ratio of 4.22, a quick ratio of 1.96 and a current ratio of 1.96. The stock’s 50 day simple moving average is $1.28 and its 200-day simple moving average is $1.36. IO Biotech has a 1-year low of $0.32 and a 1-year high of $2.79.

IO Biotech (NASDAQ:IOBT) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.05). On average, equities analysts anticipate that IO Biotech will post -1.35 earnings per share for the current year.

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.