Piper Sandler upgraded shares of IO Biotech (NASDAQ:IOBT – Free Report) to a strong-buy rating in a report issued on Wednesday morning,Zacks.com reports.
Separately, HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of IO Biotech in a research report on Wednesday, March 5th.
Read Our Latest Stock Report on IOBT
IO Biotech Stock Down 1.3 %
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in IOBT. XTX Topco Ltd acquired a new stake in IO Biotech in the fourth quarter worth about $26,000. Vontobel Holding Ltd. acquired a new stake in IO Biotech in the 4th quarter worth approximately $30,000. Renaissance Technologies LLC boosted its stake in IO Biotech by 22.5% in the 4th quarter. Renaissance Technologies LLC now owns 118,800 shares of the company’s stock worth $109,000 after purchasing an additional 21,800 shares in the last quarter. Citadel Advisors LLC purchased a new stake in IO Biotech during the 4th quarter worth approximately $249,000. Finally, Landscape Capital Management L.L.C. acquired a new position in IO Biotech during the 4th quarter valued at approximately $407,000. 54.76% of the stock is currently owned by hedge funds and other 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.
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