IO Biotech, Inc. (NASDAQ:IOBT) Given Consensus Recommendation of “Reduce” by Analysts

Shares of IO Biotech, Inc. (NASDAQ:IOBT) have been given a consensus rating of “Reduce” by the five research firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $6.3333.

A number of analysts have recently weighed in on IOBT shares. Wall Street Zen upgraded shares of IO Biotech from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Piper Sandler downgraded shares of IO Biotech from an “overweight” rating to a “neutral” rating in a research report on Friday, January 23rd. Morgan Stanley lowered shares of IO Biotech from an “equal weight” rating to an “underweight” rating in a report on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IO Biotech in a research report on Monday, December 29th.

Institutional Trading of IO Biotech

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new position in IO Biotech in the first quarter valued at approximately $26,000. NewEdge Advisors LLC acquired a new stake in shares of IO Biotech during the 2nd quarter worth approximately $34,000. Marex Group plc purchased a new position in shares of IO Biotech during the 2nd quarter valued at approximately $63,000. Beacon Pointe Advisors LLC purchased a new position in shares of IO Biotech during the 4th quarter valued at approximately $308,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of IO Biotech in the 3rd quarter valued at $215,000. 54.76% of the stock is owned by institutional investors and hedge funds.

IO Biotech Stock Performance

IOBT opened at $0.21 on Tuesday. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 18.29. IO Biotech has a 12-month low of $0.14 and a 12-month high of $2.79. The firm has a 50 day moving average of $0.33 and a two-hundred day moving average of $0.69. The firm has a market capitalization of $15.04 million, a PE ratio of -0.15 and a beta of 0.42.

IO Biotech Company Profile

IO Biotech ApS is a clinical-stage biotechnology company headquartered in Copenhagen, Denmark, specializing in the development of novel immuno-oncology therapies. The company’s proprietary platform focuses on activating and sustaining anti-tumor immune responses by targeting the PD-L1 immune checkpoint. IO Biotech’s lead candidate, IO-VAC(R), is a peptide-based cancer vaccine designed to induce durable T-cell responses against PD-L1–expressing tumors.

Since its founding in 2013, IO Biotech has advanced IO-VAC(R) into multiple clinical trials, including Phase II studies in patients with metastatic melanoma.