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

IO Biotech, Inc. (NASDAQ:IOBT) CEO Mai-Britt Zocca bought 12,500 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $0.81 per share, with a total value of $10,125.00. Following the completion of the purchase, the chief executive officer now directly owns 49,891 shares of the company’s stock, valued at $40,411.71. This represents a 33.43 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

IO Biotech Stock Performance

Shares of NASDAQ:IOBT opened at $0.91 on Wednesday. The company’s fifty day moving average is $0.98 and its 200-day moving average is $1.15. IO Biotech, Inc. has a 52 week low of $0.66 and a 52 week high of $2.10. The company has a market capitalization of $59.95 million, a PE ratio of -0.66 and a beta of 0.27.

IO Biotech (NASDAQ:IOBT) last released 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). On average, analysts forecast that IO Biotech, Inc. will post -1.35 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in IO Biotech stock. XTX Topco Ltd lifted its holdings in IO Biotech, Inc. (NASDAQ:IOBT) by 67.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,555 shares of the company’s stock after buying an additional 10,688 shares during the quarter. XTX Topco Ltd’s holdings in IO Biotech were worth $31,000 at the end of the most recent quarter. Institutional investors and hedge funds own 54.76% of the company’s stock.

About IO Biotech

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.