iTeos Therapeutics, Inc. (NASDAQ:ITOS) Sees Large Increase in Short Interest

iTeos Therapeutics, Inc. (NASDAQ:ITOS) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 2,240,000 shares, a growth of 8.2% from the May 31st total of 2,070,000 shares. Approximately 8.1% of the shares of the company are sold short. Based on an average daily trading volume, of 435,500 shares, the short-interest ratio is presently 5.1 days.

Analyst Ratings Changes

ITOS has been the subject of a number of recent analyst reports. Wedbush reissued an “outperform” rating and issued a $21.00 target price on shares of iTeos Therapeutics in a research report on Monday, June 17th. HC Wainwright lifted their price target on shares of iTeos Therapeutics from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, May 13th.

iTeos Therapeutics Price Performance

NASDAQ ITOS opened at $14.78 on Thursday. The stock has a market capitalization of $533.85 million, a price-to-earnings ratio of -3.91 and a beta of 1.40. iTeos Therapeutics has a 1-year low of $8.20 and a 1-year high of $18.75. The business’s fifty day moving average price is $15.35 and its 200-day moving average price is $12.57.

iTeos Therapeutics (NASDAQ:ITOS) last posted its earnings results on Friday, May 10th. The company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.05). Equities research analysts anticipate that iTeos Therapeutics will post -4.57 EPS for the current year.

Institutional Investors Weigh In On iTeos Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its position in iTeos Therapeutics by 131.5% during the third quarter. PNC Financial Services Group Inc. now owns 2,287 shares of the company’s stock valued at $25,000 after buying an additional 1,299 shares during the period. Trexquant Investment LP grew its position in shares of iTeos Therapeutics by 10.8% during the 3rd quarter. Trexquant Investment LP now owns 33,549 shares of the company’s stock valued at $367,000 after acquiring an additional 3,268 shares during the period. Adage Capital Partners GP L.L.C. purchased a new stake in shares of iTeos Therapeutics in the 3rd quarter worth $219,000. Sectoral Asset Management Inc. raised its holdings in iTeos Therapeutics by 5.8% in the 3rd quarter. Sectoral Asset Management Inc. now owns 155,075 shares of the company’s stock worth $1,698,000 after purchasing an additional 8,499 shares during the period. Finally, Vanguard Group Inc. lifted its position in iTeos Therapeutics by 2.3% during the third quarter. Vanguard Group Inc. now owns 1,813,759 shares of the company’s stock valued at $19,861,000 after purchasing an additional 40,407 shares in the last quarter. Hedge funds and other institutional investors own 97.16% of the company’s stock.

About iTeos Therapeutics

Iteos Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of immuno-oncology therapeutics for patients with cancer. The company's lead antibody product candidate, belrestotug, an antagonist of TIGIT or T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial, as well as used to engage the Fc gamma receptor, or Fc?R to activate dendritic cells, natural killer cells, and macrophages and to promote antibody-dependent cellular cytotoxicity, or ADCC activity.