Brokerages Expect IO Biotech, Inc. (NASDAQ:IOBT) to Announce -$0.69 Earnings Per Share

Analysts forecast that IO Biotech, Inc. (NASDAQ:IOBTGet Rating) will post earnings per share (EPS) of ($0.69) for the current quarter, Zacks reports. Zero analysts have made estimates for IO Biotech’s earnings. The lowest EPS estimate is ($0.87) and the highest is ($0.50). The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, 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 financial year, analysts forecast that the business will report earnings of ($2.42) per share, with EPS estimates ranging from ($3.24) to ($1.60). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms 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 objective on the stock in a research note on Thursday, April 7th.

Shares of IO Biotech stock opened at $7.53 on Monday. The company has a 50-day simple moving average of $6.32. IO Biotech has a 52-week low of $3.56 and a 52-week high of $17.88.

Several institutional investors have recently made changes to their positions in IOBT. Ergoteles LLC purchased a new stake in shares of IO Biotech during the first quarter worth approximately $59,000. Stifel Financial Corp purchased a new position in shares of IO Biotech during the 4th quarter worth $64,000. Bank of America Corp DE purchased a new position in IO Biotech in the fourth quarter valued at approximately $64,000. Geode Capital Management LLC purchased a new stake in IO Biotech during the 4th quarter worth $73,000. Finally, Virtu Financial LLC bought a new position in IO Biotech during the fourth quarter worth $83,000. Hedge funds and other institutional investors own 52.20% of the company’s stock.

IO Biotech Company Profile (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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