iTeos Therapeutics, Inc. (NASDAQ:ITOS) Receives $18.83 Average Price Target from Analysts

iTeos Therapeutics, Inc. (NASDAQ:ITOS) has been assigned a consensus rating of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $17.86.

A number of analysts recently weighed in on ITOS shares. HC Wainwright lowered shares of iTeos Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday, May 14th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $13.00 target price (down previously from $16.00) on shares of iTeos Therapeutics in a report on Wednesday, May 14th. Leerink Partnrs lowered shares of iTeos Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. lowered shares of iTeos Therapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $15.00 to $8.00 in a report on Tuesday, May 13th. Finally, Raymond James set a $12.00 target price on shares of iTeos Therapeutics in a report on Wednesday, May 14th.

iTeos Therapeutics Price Performance

Shares of iTeos Therapeutics stock opened at $8.35 on Wednesday. The firm has a market cap of $319.59 million, a P/E ratio of -2.65 and a beta of 1.39. The firm has a 50 day simple moving average of $6.65 and a 200 day simple moving average of $7.40. iTeos Therapeutics has a fifty-two week low of $4.80 and a fifty-two week high of $18.30.

iTeos Therapeutics (NASDAQ:ITOS) last issued its quarterly earnings results on Monday, April 28th. The company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.14. On average, sell-side analysts expect that iTeos Therapeutics will post -3.49 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On iTeos Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in shares of iTeos Therapeutics by 1.2% during the third quarter. JPMorgan Chase & Co. now owns 467,319 shares of the company’s stock worth $4,771,000 after purchasing an additional 5,368 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in iTeos Therapeutics in the 4th quarter valued at $218,000. Empowered Funds LLC lifted its position in iTeos Therapeutics by 5.0% in the 4th quarter. Empowered Funds LLC now owns 69,072 shares of the company’s stock valued at $530,000 after acquiring an additional 3,305 shares in the last quarter. Virtu Financial LLC lifted its position in iTeos Therapeutics by 84.3% in the 4th quarter. Virtu Financial LLC now owns 18,493 shares of the company’s stock valued at $142,000 after acquiring an additional 8,460 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in iTeos Therapeutics in the 4th quarter valued at $142,000. 97.16% of the stock is owned by institutional investors.

iTeos Therapeutics Company Profile

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.