Short Interest in IO Biotech, Inc. (NASDAQ:IOBT) Declines By 31.0%

IO Biotech, Inc. (NASDAQ:IOBT) was the target of a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 24,300 shares, a decrease of 31.0% from the January 31st total of 35,200 shares. Based on an average daily trading volume, of 311,000 shares, the short-interest ratio is currently 0.1 days. Currently, 0.1% of the shares of the company are sold short.

Analyst Ratings Changes

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

IO Biotech Price Performance

IOBT stock opened at $0.91 on Wednesday. IO Biotech has a fifty-two week low of $0.66 and a fifty-two week high of $1.85. The stock has a market capitalization of $60.23 million, a price-to-earnings ratio of -0.67 and a beta of 0.24. The business’s fifty day moving average price is $0.93 and its two-hundred day moving average price is $1.01.

Hedge Funds Weigh In On IO Biotech

Hedge funds have recently bought and sold shares of the business. XTX Topco Ltd bought a new stake in IO Biotech in the 4th quarter valued at about $26,000. Vontobel Holding Ltd. acquired a new stake in shares of IO Biotech in the fourth quarter valued at approximately $30,000. Renaissance Technologies LLC boosted its stake in shares of IO Biotech by 22.5% in the fourth quarter. Renaissance Technologies LLC now owns 118,800 shares of the company’s stock valued at $109,000 after buying an additional 21,800 shares during the period. Citadel Advisors LLC bought a new stake in shares of IO Biotech in the fourth quarter valued at approximately $249,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in IO Biotech during the fourth quarter worth approximately $407,000. 54.76% of the stock is owned by institutional investors.

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.