IO Biotech (NASDAQ:IOBT) Secures Buy Rating from HC Wainwright

On March 7, 2025, analysts at HC Wainwright reiterated their "buy" rating for IO Biotech (NASDAQ:IOBT) in a research report aimed at clients and investors, as reported by Benzinga. They have set a target price of $12.00 for the stock.

IO Biotech Stock Overview

As of Wednesday, IO Biotech's stock opened at $0.92. The stock's performance over the past year has shown a low of $0.66 and a high of $1.85. The company's market capitalization stands at approximately $60.41 million, with a price-to-earnings ratio of -0.67 and a beta of 0.24. Current trends indicate a fifty-day moving average of $0.93 and a two-hundred day moving average of $1.01.

Recent Institutional Activity

There has been notable activity from institutional investors regarding IO Biotech. For instance, XTX Topco Ltd bought a new position worth $26,000 during the fourth quarter. Vontobel Holding Ltd. also acquired a new stake valued around $30,000 in the same quarter. Additionally, Renaissance Technologies LLC increased its holdings by 22.5%, now owning 118,800 shares worth $109,000 after adding 21,800 shares. Citadel Advisors LLC made a significant purchase with a new position valued at approximately $249,000. Finally, Landscape Capital Management L.L.C. acquired shares worth $407,000 in the fourth quarter. At present, about 54.76% of IO Biotech's stock is owned by hedge funds and other institutional investors.

Company Profile of IO Biotech

IO Biotech, Inc. is a clinical-stage biopharmaceutical company focused on developing immune-modulating therapeutic cancer vaccines, utilizing its T-win technology platform. The company's leading candidate, IO102-IO103, aims to target immunosuppressive mechanisms caused by Indoleamine 2,3-dehydrogenase (IDO) and programmed death-ligand (PD-L1). This product is currently in phase 3 trials for melanoma and phase 2 trials for various cancers, including lung, head and neck, and bladder cancers.

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