IO Biotech, Inc. (NASDAQ:IOBT) CEO Acquires $10,125.00 in Stock

IO Biotech, Inc. (NASDAQ:IOBT) CEO Mai-Britt Zocca purchased 12,500 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $0.81 per share, for a total transaction of $10,125.00. Following the acquisition, the chief executive officer now owns 49,891 shares in the company, valued at approximately $40,411.71. This trade represents a 33.43 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

IO Biotech Price Performance

NASDAQ:IOBT traded up $0.12 during trading hours on Monday, reaching $0.89. 497,985 shares of the company traded hands, compared to its average volume of 263,323. The firm’s 50-day moving average is $0.98 and its 200-day moving average is $1.15. The stock has a market cap of $58.63 million, a P/E ratio of -0.65 and a beta of 0.27. IO Biotech, Inc. has a 1-year low of $0.66 and a 1-year high of $2.10.

IO Biotech (NASDAQ:IOBT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.07). As a group, research analysts predict that IO Biotech, Inc. will post -1.35 earnings per share for the current year.

Institutional Investors Weigh In On IO Biotech

An institutional investor recently raised its position in IO Biotech stock. Renaissance Technologies LLC lifted its position in shares of IO Biotech, Inc. (NASDAQ:IOBT) by 8.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 180,800 shares of the company’s stock after buying an additional 13,600 shares during the period. Renaissance Technologies LLC owned 0.27% of IO Biotech worth $212,000 as of its most recent SEC filing. Institutional investors own 54.76% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on IOBT shares. Morgan Stanley boosted their target price on IO Biotech from $4.00 to $6.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Piper Sandler reiterated an “overweight” rating and issued a $10.00 price objective on shares of IO Biotech in a research report on Tuesday, September 3rd. Finally, HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of IO Biotech in a report on Tuesday, November 12th.

IO Biotech Company Profile

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