iTeos Therapeutics (NASDAQ:ITOS) Sees Large Volume Increase

Shares of iTeos Therapeutics, Inc. (NASDAQ:ITOS) saw unusually-high trading volume on Wednesday . Approximately 429,820 shares changed hands during mid-day trading, an increase of 23% from the previous session’s volume of 349,854 shares.The stock last traded at $15.97 and had previously closed at $15.99.

Wall Street Analysts Forecast Growth

ITOS has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of iTeos Therapeutics from $27.00 to $24.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Wells Fargo & Company assumed coverage on shares of iTeos Therapeutics in a report on Tuesday, August 13th. They set an “overweight” rating and a $31.00 price objective for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $21.00 target price on shares of iTeos Therapeutics in a report on Thursday, August 8th.

iTeos Therapeutics Stock Performance

The stock has a fifty day moving average of $16.18 and a 200-day moving average of $14.52. The company has a market cap of $573.99 million, a PE ratio of -4.22 and a beta of 1.39.

iTeos Therapeutics (NASDAQ:ITOS) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.86. The company had revenue of $35.00 million for the quarter, compared to the consensus estimate of $4.20 million. As a group, equities analysts anticipate that iTeos Therapeutics, Inc. will post -4.21 EPS for the current fiscal year.

Hedge Funds Weigh In On iTeos Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of ITOS. Vanguard Group Inc. grew its stake in iTeos Therapeutics by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,500,602 shares of the company’s stock valued at $20,468,000 after purchasing an additional 9,660 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of iTeos Therapeutics by 14.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 908,329 shares of the company’s stock worth $13,481,000 after buying an additional 117,159 shares during the last quarter. Candriam S.C.A. bought a new position in shares of iTeos Therapeutics during the 2nd quarter worth approximately $7,558,000. Acadian Asset Management LLC purchased a new stake in iTeos Therapeutics during the first quarter valued at approximately $3,337,000. Finally, Sectoral Asset Management Inc. boosted its stake in iTeos Therapeutics by 41.9% in the fourth quarter. Sectoral Asset Management Inc. now owns 220,056 shares of the company’s stock valued at $2,410,000 after acquiring an additional 64,981 shares in the last quarter. 97.16% of the stock is currently owned by institutional investors.

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.