Balyasny Asset Management L.P. Buys Shares of 28,350 iTeos Therapeutics, Inc. (NASDAQ:ITOS)

Balyasny Asset Management L.P. purchased a new stake in shares of iTeos Therapeutics, Inc. (NASDAQ:ITOS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 28,350 shares of the company’s stock, valued at approximately $218,000. Balyasny Asset Management L.P. owned about 0.08% of iTeos Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Clear Harbor Asset Management LLC purchased a new stake in iTeos Therapeutics during the fourth quarter valued at about $96,000. SG Americas Securities LLC raised its position in shares of iTeos Therapeutics by 12.2% in the fourth quarter. SG Americas Securities LLC now owns 13,866 shares of the company’s stock valued at $106,000 after purchasing an additional 1,508 shares during the period. Empowered Funds LLC raised its position in shares of iTeos Therapeutics by 5.0% in the fourth quarter. Empowered Funds LLC now owns 69,072 shares of the company’s stock valued at $530,000 after purchasing an additional 3,305 shares during the period. Peapod Lane Capital LLC purchased a new stake in shares of iTeos Therapeutics during the 4th quarter valued at approximately $836,000. Finally, Y Intercept Hong Kong Ltd bought a new position in iTeos Therapeutics in the 4th quarter worth approximately $142,000. Institutional investors own 97.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Leerink Partnrs cut shares of iTeos Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 14th. Leerink Partners reiterated a “market perform” rating and issued a $9.00 price target (down from $47.00) on shares of iTeos Therapeutics in a research report on Wednesday, May 14th. Wells Fargo & Company reissued an “overweight” rating and set a $13.00 price objective (down previously from $16.00) on shares of iTeos Therapeutics in a report on Wednesday. HC Wainwright downgraded iTeos Therapeutics from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. lowered iTeos Therapeutics from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $15.00 to $8.00 in a report on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.86.

Insider Buying and Selling

In related news, major shareholder Bioventures 2018 L.P. Mpm sold 630,191 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $8.06, for a total value of $5,079,339.46. Following the completion of the transaction, the insider now directly owns 2,108,594 shares in the company, valued at approximately $16,995,267.64. The trade was a 23.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ansbert Gadicke sold 1,031,931 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $8.06, for a total value of $8,317,363.86. Following the sale, the insider now owns 3,452,797 shares in the company, valued at $27,829,543.82. The trade was a 23.01% decrease in their position. The disclosure for this sale can be found here. 12.50% of the stock is owned by company insiders.

iTeos Therapeutics Stock Performance

Shares of ITOS stock opened at $7.81 on Monday. The company has a market capitalization of $298.92 million, a PE ratio of -2.48 and a beta of 1.39. iTeos Therapeutics, Inc. has a 52-week low of $4.80 and a 52-week high of $18.70. The business’s fifty day moving average is $6.61 and its 200 day moving average is $7.40.

iTeos Therapeutics (NASDAQ:ITOS) last released its quarterly earnings results on Monday, April 28th. The company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.14. On average, sell-side analysts forecast that iTeos Therapeutics, Inc. will post -3.49 EPS for the current fiscal year.

iTeos Therapeutics Company Profile

iTeos Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the discovery and development of a new generation of immuno-oncology therapeutics for people living with cancer. Its pipeline includes EOS-448, Inupadenant, and EOS-984. The company was founded by Michel Detheux in April 2012 and is headquartered in Watertown, MA.