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

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

Analyst Upgrades and Downgrades

IOBT has been the topic of a number of recent analyst reports. HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of IO Biotech in a report on Tuesday, November 12th. Morgan Stanley raised their target price on shares of IO Biotech from $4.00 to $6.00 and gave the company an “overweight” rating in a research note on Monday, September 16th.

IO Biotech Price Performance

NASDAQ IOBT traded down $0.01 during trading on Monday, hitting $0.86. The company’s stock had a trading volume of 157,206 shares, compared to its average volume of 153,601. IO Biotech has a fifty-two week low of $0.66 and a fifty-two week high of $1.95. The company has a market cap of $56.85 million, a PE ratio of -0.63 and a beta of 0.24. The business’s 50 day simple moving average is $0.89 and its 200-day simple moving average is $1.11.

IO Biotech (NASDAQ:IOBT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.07). Analysts expect that IO Biotech will post -1.35 EPS for the current fiscal year.

Institutional Investors Weigh In On IO Biotech

A hedge fund recently raised its stake in IO Biotech stock. XTX Topco Ltd increased its position in IO Biotech, Inc. (NASDAQ:IOBT) by 67.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,555 shares of the company’s stock after acquiring 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 Securities and Exchange Commission (SEC). 54.76% of the stock is currently owned by institutional investors and hedge funds.

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.