JPMorgan Chase & Co. Cuts iTeos Therapeutics (NASDAQ:ITOS) Price Target to $24.00

iTeos Therapeutics (NASDAQ:ITOS) had its price target lowered by JPMorgan Chase & Co. from $27.00 to $24.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts also recently weighed in on ITOS. HC Wainwright increased their target price on shares of iTeos Therapeutics from $44.00 to $46.00 and gave the company a buy rating in a research note on Monday, May 13th. Wedbush reissued an outperform rating and issued a $21.00 price objective on shares of iTeos Therapeutics in a research report on Thursday, August 8th.

iTeos Therapeutics Stock Down 2.1 %

Shares of NASDAQ:ITOS opened at $15.08 on Monday. The stock has a market capitalization of $544.73 million, a P/E ratio of -3.99 and a beta of 1.40. iTeos Therapeutics has a 52 week low of $8.20 and a 52 week high of $18.75. The firm has a fifty day simple moving average of $15.79 and a two-hundred day simple moving average of $13.65.

iTeos Therapeutics (NASDAQ:ITOS) last released its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($1.04) by $0.86. The company had revenue of $35.00 million for the quarter, compared to the consensus estimate of $4.20 million. On average, analysts expect that iTeos Therapeutics will post -4.57 earnings per share for the current year.

Institutional Investors Weigh In On iTeos Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITOS. Acadian Asset Management LLC purchased a new position in shares of iTeos Therapeutics during the first quarter worth approximately $3,337,000. Jump Financial LLC bought a new stake in iTeos Therapeutics during the 4th quarter valued at $636,000. Kennedy Capital Management LLC purchased a new stake in shares of iTeos Therapeutics in the 1st quarter worth $1,988,000. Federated Hermes Inc. lifted its holdings in shares of iTeos Therapeutics by 4,648.4% in the 4th quarter. Federated Hermes Inc. now owns 2,944 shares of the company’s stock worth $32,000 after buying an additional 2,882 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of iTeos Therapeutics by 53.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,826 shares of the company’s stock worth $97,000 after buying an additional 3,069 shares in the last quarter. Institutional investors own 97.16% of the company’s stock.

iTeos Therapeutics Company Profile

Iteos Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of immuno-oncology therapeutics for patients with cancer. The company's lead antibody product candidate, belrestotug, an antagonist of TIGIT or T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial, as well as used to engage the Fc gamma receptor, or Fc?R to activate dendritic cells, natural killer cells, and macrophages and to promote antibody-dependent cellular cytotoxicity, or ADCC activity.