IO Biotech, Inc. (NASDAQ:IOBT) Major Shareholder Sells $68,524.26 in Stock

IO Biotech, Inc. (NASDAQ:IOBT) major shareholder Holdings A/S Novo sold 51,522 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $1.33, for a total value of $68,524.26. Following the sale, the insider now directly owns 4,377,927 shares of the company’s stock, valued at $5,822,642.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Holdings A/S Novo also recently made the following trade(s):

• On Friday, May 10th, Holdings A/S Novo sold 658,809 shares of IO Biotech stock. The stock was sold at an average price of $1.22, for a total value of $803,746.98.

IO Biotech Stock Performance

NASDAQ:IOBT traded down $0.05 during trading hours on Friday, hitting $1.29. The company’s stock had a trading volume of 116,133 shares, compared to its average volume of 132,700. The business’s 50-day moving average is $1.27 and its two-hundred day moving average is $1.52. The company has a market capitalization of $84.99 million, a PE ratio of -0.69 and a beta of 0.47. IO Biotech, Inc. has a 52-week low of $0.82 and a 52-week high of $2.18.

IO Biotech (NASDAQ:IOBT) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.07. As a group, analysts predict that IO Biotech, Inc. will post -1.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in IO Biotech stock. PFM Health Sciences LP grew its position in IO Biotech, Inc. (NASDAQ:IOBT) by 73.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,341,107 shares of the company’s stock after buying an additional 987,654 shares during the quarter. PFM Health Sciences LP owned 3.55% of IO Biotech worth $4,401,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 54.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright increased their price target on IO Biotech from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th.

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.