Tang Capital Management LLC Has $1.70 Million Position in iTeos Therapeutics, Inc. (NASDAQ:ITOS)

Tang Capital Management LLC lowered its position in iTeos Therapeutics, Inc. (NASDAQ:ITOS) by 90.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 221,716 shares of the company’s stock after selling 2,186,084 shares during the period. Tang Capital Management LLC’s holdings in iTeos Therapeutics were worth $1,703,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in iTeos Therapeutics by 1.2% in the third quarter. JPMorgan Chase & Co. now owns 467,319 shares of the company’s stock worth $4,771,000 after buying an additional 5,368 shares during the last quarter. Empowered Funds LLC increased its holdings in iTeos Therapeutics by 5.0% in the fourth quarter. Empowered Funds LLC now owns 69,072 shares of the company’s stock worth $530,000 after buying an additional 3,305 shares during the last quarter. Virtu Financial LLC increased its holdings in iTeos Therapeutics by 84.3% in the fourth quarter. Virtu Financial LLC now owns 18,493 shares of the company’s stock worth $142,000 after buying an additional 8,460 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in iTeos Therapeutics in the fourth quarter worth approximately $142,000. Finally, US Bancorp DE increased its holdings in iTeos Therapeutics by 40.1% in the fourth quarter. US Bancorp DE now owns 16,919 shares of the company’s stock worth $130,000 after buying an additional 4,843 shares during the last quarter. Institutional investors and hedge funds own 97.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ITOS shares. Raymond James set a $12.00 price objective on iTeos Therapeutics in a report on Wednesday. Leerink Partners reiterated a “market perform” rating and set a $9.00 price target (down previously from $47.00) on shares of iTeos Therapeutics in a report on Wednesday. Wells Fargo & Company reiterated an “overweight” rating and set a $13.00 price target (down previously from $16.00) on shares of iTeos Therapeutics in a report on Wednesday. JPMorgan Chase & Co. downgraded iTeos Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $15.00 to $8.00 in a report on Tuesday, May 13th. Finally, Piper Sandler reiterated an “overweight” rating and set a $12.00 price target (down previously from $16.00) on shares of iTeos Therapeutics in a report on Wednesday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $17.86.

Insider Transactions at iTeos Therapeutics

In other news, major shareholder Bioventures 2018 L.P. Mpm sold 630,191 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $8.06, for a total value of $5,079,339.46. Following the sale, the insider now owns 2,108,594 shares in the company, valued at approximately $16,995,267.64. This trade represents a 23.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ansbert Gadicke sold 1,031,931 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $8.06, for a total value of $8,317,363.86. Following the completion of the transaction, the insider now directly owns 3,452,797 shares of the company’s stock, valued at approximately $27,829,543.82. This trade represents a 23.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.50% of the stock is currently owned by corporate insiders.

iTeos Therapeutics Trading Down 2.0%

Shares of iTeos Therapeutics stock opened at $7.81 on Friday. The company’s fifty day simple moving average is $6.61 and its 200-day simple moving average is $7.41. The company has a market cap of $298.92 million, a price-to-earnings ratio of -2.48 and a beta of 1.39. iTeos Therapeutics, Inc. has a 1 year low of $4.80 and a 1 year high of $18.70.

iTeos Therapeutics (NASDAQ:ITOS) last announced its quarterly earnings data on Monday, April 28th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.94) by $0.14. As a group, research analysts forecast that iTeos Therapeutics, Inc. will post -3.49 earnings per share for the current fiscal year.

About iTeos Therapeutics

iTeos Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the discovery and development of a new generation of immuno-oncology therapeutics for people living with cancer. Its pipeline includes EOS-448, Inupadenant, and EOS-984. The company was founded by Michel Detheux in April 2012 and is headquartered in Watertown, MA.