-$0.69 EPS Expected for IO Biotech, Inc. (NASDAQ:IOBT) This Quarter

Wall Street brokerages forecast that IO Biotech, Inc. (NASDAQ:IOBT – Get Rating) will report earnings of ($0.69) per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for IO Biotech’s earnings, with the highest EPS estimate coming in at ($0.50) and the lowest estimate coming in at ($0.87). The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that IO Biotech will report full-year earnings of ($2.69) per share for the current financial year, with EPS estimates ranging from ($3.47) to ($1.90). For the next year, analysts anticipate that the company will report earnings of ($2.42) per share, with EPS estimates ranging from ($3.24) to ($1.60). Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow IO Biotech.

Separately, Zacks Investment Research raised shares of IO Biotech from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a report on Thursday, April 7th.

Several hedge funds have recently made changes to their positions in the company. Stifel Financial Corp acquired a new position in shares of IO Biotech in the fourth quarter valued at about $64,000. Bank of America Corp DE bought a new position in IO Biotech in the 4th quarter valued at approximately $64,000. Geode Capital Management LLC bought a new position in IO Biotech in the 4th quarter valued at approximately $73,000. Virtu Financial LLC acquired a new stake in IO Biotech during the 4th quarter valued at approximately $83,000. Finally, Citadel Advisors LLC acquired a new stake in shares of IO Biotech during the 4th quarter worth approximately $86,000. 0.03% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:IOBT traded down $0.44 during trading hours on Monday, hitting $7.94. 19,649 shares of the stock were exchanged, compared to its average volume of 28,206. The business’s fifty day simple moving average is $6.32. IO Biotech has a 52-week low of $3.56 and a 52-week high of $17.88.

About IO Biotech (Get Rating)

IO Biotech, Inc, a clinical-stage biopharmaceutical company, develops disruptive immune modulating anti-cancer therapies in Denmark. The company's lead product candidate, IO102-IO103, is designed to target immunosuppressive proteins, such as Indoleamine 2,3-dehydrogenase (IDO), and programmed death ligand (PD-L1).

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