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

IO Biotech (NASDAQ:IOBT)‘s stock had its “buy” rating restated by HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $12.00 price target on the stock.

Separately, Piper Sandler raised shares of IO Biotech to a “strong-buy” rating in a research note on Wednesday, March 12th.

IO Biotech Price Performance

Shares of NASDAQ IOBT opened at $1.09 on Tuesday. The company has a 50-day simple moving average of $0.96 and a 200-day simple moving average of $0.97. The company has a market cap of $71.81 million, a PE ratio of -0.80 and a beta of 0.22. IO Biotech has a 12 month low of $0.66 and a 12 month high of $1.79.

Institutional Trading of IO Biotech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. purchased a new position in shares of IO Biotech during the 4th quarter worth about $30,000. Landscape Capital Management L.L.C. purchased a new position in IO Biotech during the fourth quarter worth approximately $407,000. Renaissance Technologies LLC boosted its holdings in shares of IO Biotech by 22.5% in the 4th quarter. Renaissance Technologies LLC now owns 118,800 shares of the company’s stock valued at $109,000 after purchasing an additional 21,800 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of IO Biotech during the 4th quarter valued at $26,000. Finally, Dauntless Investment Group LLC purchased a new stake in shares of IO Biotech during the 4th quarter valued at $688,000. Hedge funds and other institutional investors own 54.76% of the company’s stock.

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.