Holdings A/S Novo Sells 51,522 Shares of IO Biotech, Inc. (NASDAQ:IOBT) Stock

IO Biotech, Inc. (NASDAQ:IOBT) major shareholder Holdings A/S Novo sold 51,522 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $1.33, for a total value of $68,524.26. Following the completion of the transaction, the insider now directly owns 4,377,927 shares in the company, valued at $5,822,642.91. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions 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

Shares of NASDAQ IOBT traded down $0.05 during mid-day trading on Friday, reaching $1.29. 116,133 shares of the company traded hands, compared to its average volume of 132,700. The stock has a market cap of $84.99 million, a PE ratio of -0.69 and a beta of 0.47. The company’s fifty day moving average is $1.27 and its two-hundred day moving average is $1.52. IO Biotech, Inc. has a fifty-two week low of $0.82 and a fifty-two week high of $2.18.

IO Biotech (NASDAQ:IOBT) last released its earnings results on Tuesday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.07. Research analysts forecast that IO Biotech, Inc. will post -1.27 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of IO Biotech

A hedge fund recently raised its stake in IO Biotech stock. PFM Health Sciences LP raised its holdings in IO Biotech, Inc. (NASDAQ:IOBT) by 73.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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. 54.76% of the stock is owned by institutional investors and hedge funds.

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.