IO Biotech’s (IOBT) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of IO Biotech (NASDAQ:IOBT) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $12.00 target price on the stock.

IO Biotech Price Performance

IO Biotech stock opened at $0.90 on Wednesday. The firm has a fifty day moving average price of $0.93 and a two-hundred day moving average price of $1.01. IO Biotech has a fifty-two week low of $0.66 and a fifty-two week high of $1.85. The firm has a market cap of $59.29 million, a price-to-earnings ratio of -0.66 and a beta of 0.24.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC bought a new position in shares of IO Biotech during the 4th quarter worth about $249,000. Dauntless Investment Group LLC bought a new position in shares of IO Biotech during the 4th quarter worth about $688,000. XTX Topco Ltd bought a new position in shares of IO Biotech during the 4th quarter worth about $26,000. Renaissance Technologies LLC increased its holdings 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 period. Finally, Landscape Capital Management L.L.C. bought a new position in shares of IO Biotech during the 4th quarter worth about $407,000. Institutional investors own 54.76% of the company’s stock.

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.