iTeos Therapeutics, Inc. (NASDAQ:ITOS) Short Interest Down 20.4% in August

iTeos Therapeutics, Inc. (NASDAQ:ITOS) saw a significant decline in short interest in August. As of August 31st, there was short interest totalling 779,500 shares, a decline of 20.4% from the August 15th total of 979,000 shares. Approximately 2.6% of the shares of the stock are short sold. Based on an average trading volume of 420,700 shares, the short-interest ratio is presently 1.9 days.

ITOS has been the subject of several recent research reports. SVB Leerink lowered their price target on shares of iTeos Therapeutics from $56.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, August 13th. Zacks Investment Research raised shares of iTeos Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, August 30th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $47.25.

In related news, major shareholder Bioventures 2014 L.P. Mpm sold 24,303 shares of the company’s stock in a transaction on Monday, September 20th. The shares were sold at an average price of $27.49, for a total value of $668,089.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michel Detheux sold 7,499 shares of the company’s stock in a transaction on Monday, August 23rd. The stock was sold at an average price of $28.06, for a total transaction of $210,421.94. Following the completion of the transaction, the chief executive officer now owns 141,438 shares of the company’s stock, valued at $3,968,750.28. The disclosure for this sale can be found here. Insiders sold 246,528 shares of company stock valued at $7,011,701 over the last quarter. 3.95% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of ITOS. JPMorgan Chase & Co. raised its stake in iTeos Therapeutics by 97.1% in the first quarter. JPMorgan Chase & Co. now owns 9,926 shares of the company’s stock worth $339,000 after buying an additional 4,890 shares in the last quarter. Jane Street Group LLC bought a new position in iTeos Therapeutics in the first quarter worth about $381,000. New York State Common Retirement Fund raised its stake in iTeos Therapeutics by 41.2% in the first quarter. New York State Common Retirement Fund now owns 13,700 shares of the company’s stock worth $468,000 after buying an additional 4,000 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in iTeos Therapeutics in the second quarter worth about $228,000. Finally, BlackRock Inc. raised its stake in iTeos Therapeutics by 44.0% in the first quarter. BlackRock Inc. now owns 1,533,322 shares of the company’s stock worth $52,409,000 after buying an additional 468,576 shares in the last quarter. 83.69% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:ITOS traded up $0.85 during midday trading on Tuesday, hitting $27.66. 1,663 shares of the stock traded hands, compared to its average volume of 331,400. The stock has a market capitalization of $973.91 million, a PE ratio of -13.08 and a beta of 2.43. The business’s 50 day moving average is $26.16 and its two-hundred day moving average is $26.37. iTeos Therapeutics has a one year low of $17.43 and a one year high of $47.61.

iTeos Therapeutics (NASDAQ:ITOS) last issued its quarterly earnings data on Thursday, August 12th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.34). Sell-side analysts expect that iTeos Therapeutics will post 3.22 earnings per share for the current year.

About iTeos Therapeutics

Iteos Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of immuno-oncology therapeutics for patients. The company's product pipeline includes inupadenant, a small molecule antagonist of the adenosine A2a receptor that is an open-label Phase 1/2a clinical trial in adult patients; and EOS-448, an antagonist of TIGIT or T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1/2a clinical trial, as well as used to engage the Fc gamma receptor, or Fc?R to activate dendritic cells and macrophages and to promote antibody-dependent cellular cytotoxicity, or ADCC activity.

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