IO Biotech, Inc. (NASDAQ:IOBT) CEO Purchases $10,125.00 in Stock

IO Biotech, Inc. (NASDAQ:IOBT) CEO Mai-Britt Zocca bought 12,500 shares of the stock in a transaction dated Monday, December 23rd. The stock was purchased at an average cost of $0.81 per share, for a total transaction of $10,125.00. Following the acquisition, the chief executive officer now owns 49,891 shares in the company, valued at $40,411.71. The trade was a 33.43 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

IO Biotech Stock Up 2.3 %

Shares of NASDAQ:IOBT opened at $0.91 on Thursday. IO Biotech, Inc. has a 12 month low of $0.66 and a 12 month high of $2.10. The company’s 50-day moving average price is $0.97 and its two-hundred day moving average price is $1.14. The firm has a market cap of $59.95 million, a P/E ratio of -0.66 and a beta of 0.27.

IO Biotech (NASDAQ:IOBT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.07). As a group, equities analysts predict that IO Biotech, Inc. will post -1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Morgan Stanley upped their target price on shares of IO Biotech from $4.00 to $6.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of IO Biotech in a report on Tuesday, November 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 target price on shares of IO Biotech in a report on Tuesday, September 3rd.

Institutional Inflows and Outflows

An institutional investor recently raised its position in IO Biotech stock. XTX Topco Ltd grew its holdings in IO Biotech, Inc. (NASDAQ:IOBT) by 67.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,555 shares of the company’s stock after purchasing an additional 10,688 shares during the quarter. XTX Topco Ltd’s holdings in IO Biotech were worth $31,000 at the end of the most recent reporting period. Institutional investors own 54.76% of the company’s stock.

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.