Short Interest in IO Biotech, Inc. (NASDAQ:IOBT) Rises By 32.9%

IO Biotech, Inc. (NASDAQ:IOBT) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 32,300 shares, a growth of 32.9% from the February 13th total of 24,300 shares. Based on an average daily volume of 181,100 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the company’s stock are short sold.

Analyst Ratings Changes

IOBT has been the topic of a number of research analyst reports. Piper Sandler upgraded IO Biotech to a “strong-buy” rating in a report on Wednesday, March 12th. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of IO Biotech in a report on Wednesday, March 5th.

IO Biotech Stock Up 2.4 %

Shares of IO Biotech stock traded up $0.02 on Monday, hitting $0.90. 27,901 shares of the company traded hands, compared to its average volume of 259,705. The company has a 50-day moving average price of $0.92 and a 200 day moving average price of $0.97. IO Biotech has a 12-month low of $0.66 and a 12-month high of $1.85. The company has a market cap of $59.29 million, a PE ratio of -0.66 and a beta of 0.22.

Institutional Investors Weigh In On IO Biotech

Several large investors have recently made changes to their positions in IOBT. XTX Topco Ltd bought a new position in IO Biotech during the fourth quarter valued at approximately $26,000. Vontobel Holding Ltd. bought a new position in shares of IO Biotech during the 4th quarter valued at $30,000. Renaissance Technologies LLC lifted its stake 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 last quarter. Citadel Advisors LLC bought a new stake in shares of IO Biotech during the 4th quarter worth about $249,000. Finally, Landscape Capital Management L.L.C. acquired a new position in IO Biotech during the fourth quarter valued at approximately $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.