HC Wainwright Decreases Earnings Estimates for IO Biotech

IO Biotech, Inc. (NASDAQ:IOBT) – Stock analysts at HC Wainwright dropped their FY2024 earnings per share estimates for IO Biotech in a research report issued to clients and investors on Tuesday, November 12th. HC Wainwright analyst E. Bodnar now expects that the company will post earnings per share of ($1.36) for the year, down from their prior forecast of ($1.32). HC Wainwright has a “Buy” rating and a $12.00 price target on the stock. The consensus estimate for IO Biotech’s current full-year earnings is ($1.18) per share. HC Wainwright also issued estimates for IO Biotech’s Q4 2024 earnings at ($0.39) EPS, FY2025 earnings at ($1.03) EPS, FY2026 earnings at ($0.88) EPS, FY2027 earnings at ($0.59) EPS and FY2028 earnings at ($0.27) EPS.

IO Biotech (NASDAQ:IOBT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.07).

A number of other research firms also recently weighed in on IOBT. Morgan Stanley raised their target price on shares of IO Biotech from $4.00 to $6.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Piper Sandler reiterated an “overweight” rating and set a $10.00 price target on shares of IO Biotech in a report on Tuesday, September 3rd.

IO Biotech Stock Down 7.9 %

NASDAQ:IOBT opened at $0.82 on Friday. IO Biotech has a twelve month low of $0.73 and a twelve month high of $2.10. The company has a market cap of $54.02 million, a P/E ratio of -0.60 and a beta of 0.42. The business has a 50 day moving average price of $1.09 and a two-hundred day moving average price of $1.25.

Institutional Inflows and Outflows

An institutional investor recently raised its position in IO Biotech stock. XTX Topco Ltd grew its holdings in IO Biotech, Inc. (NASDAQ:IOBT) by 67.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 26,555 shares of the company’s stock after purchasing an additional 10,688 shares during the period. XTX Topco Ltd’s holdings in IO Biotech were worth $31,000 as of its most recent SEC filing. 54.76% of the stock is owned by institutional investors and hedge funds.

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.