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

iTeos Therapeutics, Inc. (NASDAQ:ITOS) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 1,500,000 shares, a decline of 21.1% from the December 15th total of 1,900,000 shares. Based on an average trading volume of 556,500 shares, the days-to-cover ratio is currently 2.7 days. Currently, 4.9% of the shares of the company are short sold.

Insider Buying and Selling at iTeos Therapeutics

In other news, CFO Matthew Gall bought 5,000 shares of the stock in a transaction on Tuesday, November 19th. The shares were purchased at an average cost of $7.73 per share, for a total transaction of $38,650.00. Following the completion of the purchase, the chief financial officer now directly owns 65,429 shares in the company, valued at $505,766.17. This represents a 8.27 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ITOS. Clearline Capital LP purchased a new stake in shares of iTeos Therapeutics during the 2nd quarter valued at $2,328,000. Algert Global LLC boosted its holdings in shares of iTeos Therapeutics by 92.0% in the 3rd quarter. Algert Global LLC now owns 256,139 shares of the company’s stock worth $2,615,000 after purchasing an additional 122,730 shares in the last quarter. State Street Corp increased its position in shares of iTeos Therapeutics by 21.9% during the 3rd quarter. State Street Corp now owns 1,175,353 shares of the company’s stock valued at $12,000,000 after purchasing an additional 211,452 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of iTeos Therapeutics by 14.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 908,329 shares of the company’s stock valued at $13,481,000 after buying an additional 117,159 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in iTeos Therapeutics by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 222,135 shares of the company’s stock worth $2,268,000 after buying an additional 8,397 shares during the last quarter. Hedge funds and other institutional investors own 97.16% of the company’s stock.

iTeos Therapeutics Price Performance

ITOS stock traded down $0.09 during mid-day trading on Thursday, reaching $7.68. 123,555 shares of the company traded hands, compared to its average volume of 313,050. The company has a fifty day moving average price of $8.08 and a 200-day moving average price of $11.64. iTeos Therapeutics has a 52-week low of $7.09 and a 52-week high of $18.75. The company has a market capitalization of $280.55 million, a P/E ratio of -2.44 and a beta of 1.39.

iTeos Therapeutics (NASDAQ:ITOS) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.05) EPS for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.13. As a group, analysts forecast that iTeos Therapeutics will post -3.49 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on iTeos Therapeutics from $31.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. HC Wainwright reissued a “buy” rating and issued a $21.00 price target on shares of iTeos Therapeutics in a research report on Thursday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of iTeos Therapeutics in a report on Friday, January 10th.

iTeos Therapeutics Company Profile

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.