IO Biotech, Inc. (NASDAQ:IOBT) Short Interest Update

IO Biotech, Inc. (NASDAQ:IOBT) saw a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 45,400 shares, a drop of 68.6% from the December 31st total of 144,400 shares. Based on an average daily trading volume, of 358,100 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in IO Biotech stock. XTX Topco Ltd increased its position in shares of IO Biotech, Inc. (NASDAQ:IOBT) by 67.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,555 shares of the company’s stock after buying an additional 10,688 shares during the period. XTX Topco Ltd’s holdings in IO Biotech were worth $31,000 as of its most recent filing with the SEC. 54.76% of the stock is owned by institutional investors and hedge funds.

IO Biotech Stock Performance

NASDAQ:IOBT traded up $0.01 during midday trading on Tuesday, reaching $0.98. 138,061 shares of the stock traded hands, compared to its average volume of 165,399. The stock has a market capitalization of $64.56 million, a PE ratio of -0.72 and a beta of 0.24. IO Biotech has a 12-month low of $0.66 and a 12-month high of $1.89. The business has a 50-day moving average of $0.85 and a two-hundred day moving average of $1.09.

IO Biotech (NASDAQ:IOBT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.07). Research analysts anticipate that IO Biotech will post -1.35 earnings per share for the current year.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of IO Biotech in a research note on Tuesday, November 12th.

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.