HC Wainwright Initiates Coverage on IO Biotech (NASDAQ:IOBT)

Research analysts at HC Wainwright assumed coverage on shares of IO Biotech (NASDAQ:IOBTGet Rating) in a research note issued on Monday, The Fly reports. The brokerage set a “buy” rating on the stock.

IO Biotech Stock Performance

IOBT opened at $2.54 on Monday. IO Biotech has a 52-week low of $2.15 and a 52-week high of $12.58. The business has a fifty day moving average of $2.65 and a 200 day moving average of $3.83.

Institutional Trading of IO Biotech

Several institutional investors and hedge funds have recently modified their holdings of IOBT. Ergoteles LLC bought a new stake in IO Biotech during the 1st quarter valued at $59,000. Jane Street Group LLC bought a new stake in shares of IO Biotech in the first quarter valued at about $76,000. Victory Capital Management Inc. purchased a new stake in IO Biotech in the third quarter worth about $119,000. Psagot Value Holdings Ltd. Israel bought a new position in IO Biotech during the 3rd quarter worth about $111,000. Finally, Renaissance Technologies LLC bought a new stake in shares of IO Biotech in the 3rd quarter valued at about $50,000. Institutional investors own 53.64% of the company’s stock.

IO Biotech Company Profile

(Get Rating)

IO Biotech, Inc, a clinical-stage biopharmaceutical company, develops immune-modulating cancer therapies based on the T-win technology platform. The company's lead product candidate, IO102-IO103, which is designed to target immunosuppressive proteins, such as Indoleamine 2,3-dehydrogenase (IDO), and programmed death-ligand (PD-L1) that is in phase 2 clinical trial to treat melanoma, as well as in phase 1 clinical trial to treat lung, head and neck, bladder, and melanoma cancer.

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