Short Interest in IO Biotech, Inc. (NASDAQ:IOBT) Declines By 9.4%

IO Biotech, Inc. (NASDAQ:IOBT) saw a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 61,800 shares, a decline of 9.4% from the March 31st total of 68,200 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 133,900 shares, the short-interest ratio is presently 0.5 days.

IO Biotech Trading Up 4.9 %

Shares of NASDAQ:IOBT traded up $0.07 during trading on Monday, reaching $1.49. The company had a trading volume of 46,365 shares, compared to its average volume of 128,780. IO Biotech has a fifty-two week low of $0.82 and a fifty-two week high of $2.64. The stock’s fifty day moving average price is $1.61 and its 200 day moving average price is $1.49.

IO Biotech (NASDAQ:IOBT) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). Equities analysts anticipate that IO Biotech will post -1.41 EPS for the current year.

Insiders Place Their Bets

In other IO Biotech news, major shareholder Holdings A/S Novo sold 658,809 shares of IO Biotech stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $1.50, for a total transaction of $988,213.50. Following the transaction, the insider now owns 5,088,258 shares of the company’s stock, valued at $7,632,387. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.50% of the stock is currently owned by corporate insiders.

Institutional Trading of IO Biotech

A number of institutional investors have recently modified their holdings of IOBT. Armistice Capital LLC purchased a new stake in IO Biotech during the third quarter worth $3,029,000. Vivo Capital LLC boosted its position in IO Biotech by 104.7% during the third quarter. Vivo Capital LLC now owns 6,173,439 shares of the company’s stock worth $8,705,000 after purchasing an additional 3,157,894 shares in the last quarter. Stonepine Capital Management LLC purchased a new stake in IO Biotech during the third quarter worth $2,785,000. Finally, PFM Health Sciences LP boosted its position in IO Biotech by 73.0% during the fourth quarter. PFM Health Sciences LP now owns 2,341,107 shares of the company’s stock worth $4,401,000 after purchasing an additional 987,654 shares in the last quarter. 54.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of IO Biotech in a report on Wednesday, March 6th.

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.