HC Wainwright Reaffirms “Buy” Rating for IO Biotech (NASDAQ:IOBT)

IO Biotech (NASDAQ:IOBT)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $12.00 target price on the stock.

IO Biotech Stock Performance

Shares of NASDAQ IOBT opened at $0.91 on Wednesday. IO Biotech has a 1 year low of $0.66 and a 1 year high of $1.85. The firm has a market cap of $60.23 million, a P/E ratio of -0.67 and a beta of 0.24. The stock has a fifty day moving average price of $0.93 and a two-hundred day moving average price of $1.01.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IOBT. Vontobel Holding Ltd. acquired a new stake in IO Biotech in the 4th quarter valued at about $30,000. Citadel Advisors LLC acquired a new stake in IO Biotech during the fourth quarter valued at approximately $249,000. Renaissance Technologies LLC boosted its holdings in IO Biotech by 22.5% during the fourth quarter. Renaissance Technologies LLC now owns 118,800 shares of the company’s stock worth $109,000 after buying an additional 21,800 shares in the last quarter. XTX Topco Ltd bought a new position in shares of IO Biotech in the fourth quarter valued at $26,000. Finally, Dauntless Investment Group LLC bought a new position in shares of IO Biotech in the fourth quarter valued at $688,000. 54.76% of the stock is owned by institutional investors and hedge funds.

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.