IO Biotech, Inc. (NASDAQ:IOBT) Sees Large Decrease in Short Interest

IO Biotech, Inc. (NASDAQ:IOBT) was the recipient of a significant decline in short interest in February. As of February 15th, there was short interest totalling 24,300 shares, a decline of 31.0% from the January 31st total of 35,200 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 311,000 shares, the short-interest ratio is presently 0.1 days.

IO Biotech Stock Performance

IO Biotech stock traded up $0.05 on Tuesday, reaching $0.91. The company’s stock had a trading volume of 123,963 shares, compared to its average volume of 140,087. The business’s fifty day moving average price is $0.93 and its 200 day moving average price is $1.02. The company has a market cap of $60.23 million, a price-to-earnings ratio of -0.67 and a beta of 0.24. IO Biotech has a twelve month low of $0.66 and a twelve month high of $1.85.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IOBT. XTX Topco Ltd bought a new position in IO Biotech in the 4th quarter worth approximately $26,000. Vontobel Holding Ltd. acquired a new stake in shares of IO Biotech in the 4th quarter valued at $30,000. Renaissance Technologies LLC raised its position in shares of IO Biotech by 22.5% during the fourth quarter. Renaissance Technologies LLC now owns 118,800 shares of the company’s stock worth $109,000 after acquiring an additional 21,800 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of IO Biotech during the fourth quarter valued at $249,000. Finally, Landscape Capital Management L.L.C. bought a new position in IO Biotech in the fourth quarter valued at about $407,000. Institutional investors and hedge funds own 54.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of IO Biotech in a report on Tuesday, November 12th.

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.