iTeos Therapeutics (NASDAQ:ITOS) Given Outperform Rating at Wedbush

Wedbush reissued their outperform rating on shares of iTeos Therapeutics (NASDAQ:ITOS) in a report published on Monday,RTT News reports. Wedbush currently has a $10.50 price target on the stock, down from their previous price target of $12.00.

Several other equities analysts have also issued reports on ITOS. HC Wainwright lowered shares of iTeos Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday, May 14th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $12.00 target price (down from $13.00) on shares of iTeos Therapeutics in a report on Wednesday, May 28th. Leerink Partnrs downgraded shares of iTeos Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Piper Sandler reissued an “overweight” rating and issued a $12.00 target price (down from $16.00) on shares of iTeos Therapeutics in a report on Wednesday, May 14th. Finally, Leerink Partners restated a “market perform” rating and set a $9.00 price objective (down previously from $47.00) on shares of iTeos Therapeutics in a report on Wednesday, May 14th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, iTeos Therapeutics has a consensus rating of “Hold” and an average price target of $15.64.

iTeos Therapeutics Price Performance

Shares of NASDAQ:ITOS opened at $10.13 on Monday. The company has a market capitalization of $387.68 million, a P/E ratio of -3.33 and a beta of 1.49. iTeos Therapeutics has a 1 year low of $4.80 and a 1 year high of $18.13. The business’s 50 day simple moving average is $9.63 and its 200 day simple moving average is $7.93.

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

Insider Activity

In other news, major shareholder Ansbert Gadicke sold 1,031,931 shares of the stock in a transaction on 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 owned 3,452,797 shares in the company, valued at $27,829,543.82. This represents a 23.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Hallal sold 38,228 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $10.24, for a total transaction of $391,454.72. The disclosure for this sale can be found here. Insiders have sold 1,939,307 shares of company stock valued at $16,202,116 in the last three months. Company insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Balyasny Asset Management L.P. purchased a new position in iTeos Therapeutics during the 4th quarter valued at about $218,000. BNP Paribas Financial Markets acquired a new position in iTeos Therapeutics during the fourth quarter valued at $461,000. Virtu Financial LLC boosted its holdings in iTeos Therapeutics by 84.3% in the 4th quarter. Virtu Financial LLC now owns 18,493 shares of the company’s stock valued at $142,000 after purchasing an additional 8,460 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of iTeos Therapeutics in the 4th quarter valued at $1,159,000. Finally, Exchange Traded Concepts LLC raised its position in iTeos Therapeutics by 25.1% during the first quarter. Exchange Traded Concepts LLC now owns 17,308 shares of the company’s stock worth $103,000 after acquiring an additional 3,468 shares during the last quarter. 97.16% of the stock is currently owned by institutional investors and hedge funds.

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.