iTeos Therapeutics, Inc. (NASDAQ:ITOS) Short Interest Down 21.1% in December

iTeos Therapeutics, Inc. (NASDAQ:ITOS) was the target of a significant decline in short interest in 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. Currently, 4.9% of the company’s shares are short sold. Based on an average daily trading volume, of 556,500 shares, the short-interest ratio is currently 2.7 days.

Analyst Upgrades and Downgrades

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

iTeos Therapeutics Stock Down 1.2 %

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

iTeos Therapeutics (NASDAQ:ITOS) last posted its earnings results on Tuesday, November 12th. The company reported ($1.05) EPS for the quarter, topping the consensus estimate of ($1.18) by $0.13. Analysts forecast that iTeos Therapeutics will post -3.49 earnings per share for the current year.

Insider Activity at iTeos Therapeutics

In other iTeos Therapeutics news, CFO Matthew Gall bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was acquired at an average price of $7.73 per share, with a total value of $38,650.00. Following the completion of the purchase, the chief financial officer now directly owns 65,429 shares of the company’s stock, valued at approximately $505,766.17. This trade represents a 8.27 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 12.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. nVerses Capital LLC raised its position in iTeos Therapeutics by 212.5% in the 3rd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $26,000 after buying an additional 1,700 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of iTeos Therapeutics in the third quarter valued at about $31,000. China Universal Asset Management Co. Ltd. lifted its position in shares of iTeos Therapeutics by 60.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,024 shares of the company’s stock valued at $72,000 after purchasing an additional 2,646 shares in the last quarter. Virtu Financial LLC purchased a new position in iTeos Therapeutics during the third quarter worth about $102,000. Finally, Quest Partners LLC boosted its holdings in iTeos Therapeutics by 914.7% during the third quarter. Quest Partners LLC now owns 11,020 shares of the company’s stock worth $113,000 after purchasing an additional 9,934 shares during the last quarter. Institutional investors own 97.16% of the company’s stock.

About iTeos Therapeutics

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.