IO Biotech (NASDAQ:IOBT) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of IO Biotech (NASDAQ:IOBT) in a research report sent to investors on Tuesday morning,Benzinga reports. HC Wainwright currently has a $12.00 price objective 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 Stock Down 8.6 %

NASDAQ IOBT opened at $1.00 on Tuesday. IO Biotech has a fifty-two week low of $0.66 and a fifty-two week high of $1.79. The business has a 50 day moving average price of $0.96 and a two-hundred day moving average price of $0.97. The stock has a market cap of $65.63 million, a PE ratio of -0.73 and a beta of 0.22.

Institutional Investors Weigh In On IO Biotech

Several hedge funds and other institutional investors have recently bought and sold shares of IOBT. Dauntless Investment Group LLC acquired a new stake in shares of IO Biotech during the fourth quarter worth approximately $688,000. Landscape Capital Management L.L.C. acquired a new stake in IO Biotech in the fourth quarter valued at $407,000. Citadel Advisors LLC bought a new position in IO Biotech during the 4th quarter valued at $249,000. Vontobel Holding Ltd. acquired a new position in IO Biotech during the 4th quarter worth $30,000. Finally, XTX Topco Ltd acquired a new position in IO Biotech during the 4th quarter worth $26,000. 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.