Short Interest in IO Biotech, Inc. (NASDAQ:IOBT) Decreases By 68.6%

IO Biotech, Inc. (NASDAQ:IOBT) saw a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 45,400 shares, a decrease of 68.6% from the December 31st total of 144,400 shares. Based on an average trading volume of 358,100 shares, the short-interest ratio is currently 0.1 days. Currently, 0.1% of the shares of the stock are sold short.

Hedge Funds Weigh In On IO Biotech

An institutional investor recently raised its position in IO Biotech stock. XTX Topco Ltd lifted its stake in shares of IO Biotech, Inc. (NASDAQ:IOBT) by 67.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,555 shares of the company’s stock after acquiring an additional 10,688 shares during the quarter. XTX Topco Ltd’s holdings in IO Biotech were worth $31,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 54.76% of the company’s stock.

IO Biotech Stock Performance

Shares of NASDAQ IOBT traded up $0.01 during midday trading on Tuesday, reaching $0.98. 138,061 shares of the stock were exchanged, compared to its average volume of 165,399. IO Biotech has a twelve month low of $0.66 and a twelve month high of $1.89. The stock has a market capitalization of $64.56 million, a P/E ratio of -0.72 and a beta of 0.24. The company has a 50 day simple moving average of $0.85 and a 200 day simple moving average of $1.09.

IO Biotech (NASDAQ:IOBT) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.07). On average, research analysts expect that IO Biotech will post -1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of IO Biotech in a report on Tuesday, November 12th.

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.