Bank of America Corp DE Decreases Position in iTeos Therapeutics, Inc. (NASDAQ:ITOS)

Bank of America Corp DE lowered its stake in shares of iTeos Therapeutics, Inc. (NASDAQ:ITOS) by 20.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,331 shares of the company’s stock after selling 15,435 shares during the quarter. Bank of America Corp DE owned 0.17% of iTeos Therapeutics worth $471,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of ITOS. JPMorgan Chase & Co. boosted its stake in shares of iTeos Therapeutics by 342.7% in the 4th quarter. JPMorgan Chase & Co. now owns 2,068,796 shares of the company’s stock valued at $15,888,000 after buying an additional 1,601,477 shares during the period. Boxer Capital Management LLC acquired a new stake in iTeos Therapeutics in the fourth quarter valued at approximately $7,272,000. Renaissance Technologies LLC increased its position in shares of iTeos Therapeutics by 56.1% in the 4th quarter. Renaissance Technologies LLC now owns 837,200 shares of the company’s stock valued at $6,430,000 after purchasing an additional 300,800 shares during the last quarter. Almitas Capital LLC acquired a new stake in shares of iTeos Therapeutics in the 4th quarter valued at $2,113,000. Finally, Eversept Partners LP acquired a new stake in shares of iTeos Therapeutics in the 4th quarter valued at $1,691,000. 97.16% of the stock is currently owned by institutional investors and hedge funds.

iTeos Therapeutics Stock Performance

Shares of NASDAQ:ITOS opened at $10.00 on Thursday. iTeos Therapeutics, Inc. has a one year low of $4.80 and a one year high of $18.13. The stock has a market capitalization of $382.74 million, a price-to-earnings ratio of -3.17 and a beta of 1.51. The company has a 50-day simple moving average of $7.64 and a 200-day simple moving average of $7.51.

iTeos Therapeutics (NASDAQ:ITOS) last posted its quarterly earnings data on Monday, April 28th. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($0.94) by $0.14. As a group, research analysts forecast that iTeos Therapeutics, Inc. will post -3.49 EPS for the current fiscal year.

Insider Activity

In other iTeos Therapeutics news, CEO Michel Detheux sold 8,400 shares of iTeos Therapeutics stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $10.10, for a total value of $84,840.00. Following the sale, the chief executive officer now owns 135,903 shares of the company’s stock, valued at approximately $1,372,620.30. The trade was a 5.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Hallal sold 38,228 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $10.24, for a total value of $391,454.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,939,307 shares of company stock valued at $16,202,116. Company insiders own 12.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Raymond James set a $12.00 price target on iTeos Therapeutics in a research note on Wednesday, May 14th. Piper Sandler restated an “overweight” rating and set a $12.00 target price (down previously from $16.00) on shares of iTeos Therapeutics in a research note on Wednesday, May 14th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $12.00 price target (down from $13.00) on shares of iTeos Therapeutics in a research note on Wednesday, May 28th. Leerink Partners reaffirmed a “market perform” rating and issued a $9.00 target price (down from $47.00) on shares of iTeos Therapeutics in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. lowered shares of iTeos Therapeutics from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $15.00 to $8.00 in a research note on Tuesday, May 13th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $15.86.

iTeos Therapeutics 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.