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

IO Biotech (NASDAQ:IOBT)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $12.00 price objective on the stock.

IO Biotech Price Performance

Shares of IOBT opened at $0.91 on Wednesday. The company has a 50-day moving average of $0.93 and a two-hundred day moving average of $1.01. The stock has a market cap of $60.23 million, a price-to-earnings ratio of -0.67 and a beta of 0.24. IO Biotech has a one year low of $0.66 and a one year high of $1.85.

Institutional Trading of IO Biotech

Several hedge funds and other institutional investors have recently modified their holdings of IOBT. XTX Topco Ltd acquired a new position in IO Biotech during the fourth quarter valued at $26,000. Vontobel Holding Ltd. purchased a new position in IO Biotech during the 4th quarter valued at about $30,000. Renaissance Technologies LLC increased its holdings in shares of IO Biotech by 22.5% in the 4th quarter. Renaissance Technologies LLC now owns 118,800 shares of the company’s stock valued at $109,000 after purchasing an additional 21,800 shares during the period. Citadel Advisors LLC purchased a new stake in shares of IO Biotech in the fourth quarter worth approximately $249,000. Finally, Landscape Capital Management L.L.C. purchased a new position in IO Biotech during the fourth quarter valued at approximately $407,000. Institutional investors and hedge funds own 54.76% of the company’s stock.

About IO Biotech

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.