IO Biotech, Inc. (NASDAQ:IOBT – Free Report) – 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 – Get Free Report) 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
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.
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