Q3 2024 Earnings Forecast for IO Biotech, Inc. (NASDAQ:IOBT) Issued By HC Wainwright

IO Biotech, Inc. (NASDAQ:IOBT) – Equities researchers at HC Wainwright decreased their Q3 2024 earnings per share estimates for shares of IO Biotech in a report released on Wednesday, August 14th. HC Wainwright analyst E. Bodnar now forecasts that the company will post earnings of ($0.35) per share for the quarter, down from their previous forecast of ($0.33). HC Wainwright currently has a “Buy” rating and a $12.00 target price on the stock. The consensus estimate for IO Biotech’s current full-year earnings is ($1.27) per share. HC Wainwright also issued estimates for IO Biotech’s Q4 2024 earnings at ($0.37) EPS, FY2024 earnings at ($1.32) EPS, FY2025 earnings at ($1.02) EPS, FY2026 earnings at ($0.87) EPS, FY2027 earnings at ($0.63) EPS and FY2028 earnings at ($0.28) EPS.

IO Biotech (NASDAQ:IOBT) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.04.

IO Biotech Price Performance

IOBT opened at $1.40 on Friday. The stock has a 50-day moving average price of $1.30 and a 200-day moving average price of $1.46. The firm has a market cap of $92.23 million, a PE ratio of -0.75 and a beta of 0.48. IO Biotech has a 1 year low of $0.82 and a 1 year high of $2.12.

Institutional Investors Weigh In On IO Biotech

Large investors have recently bought and sold shares of the business. XTX Topco Ltd increased its holdings in IO Biotech by 67.4% in the 2nd quarter. XTX Topco Ltd now owns 26,555 shares of the company’s stock worth $31,000 after buying an additional 10,688 shares in the last quarter. Renaissance Technologies LLC increased its holdings in IO Biotech by 8.1% in the 2nd quarter. Renaissance Technologies LLC now owns 180,800 shares of the company’s stock worth $212,000 after buying an additional 13,600 shares in the last quarter. Finally, PFM Health Sciences LP increased its holdings in IO Biotech by 73.0% in the 4th quarter. PFM Health Sciences LP now owns 2,341,107 shares of the company’s stock worth $4,401,000 after buying an additional 987,654 shares in the last quarter. 54.76% of the stock is currently owned by institutional investors.

Insider Transactions at IO Biotech

In related news, major shareholder Holdings A/S Novo sold 51,522 shares of IO Biotech stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $1.33, for a total value of $68,524.26. Following the completion of the sale, the insider now directly owns 4,377,927 shares in the company, valued at approximately $5,822,642.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is owned by insiders.

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.