iTeos Therapeutics’ (ITOS) “Market Perform” Rating Reaffirmed at Leerink Partners

iTeos Therapeutics (NASDAQ:ITOS)‘s stock had its “market perform” rating restated by stock analysts at Leerink Partners in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. They presently have a $9.00 price target on the stock, down from their prior price target of $47.00. Leerink Partners’ price target suggests a potential upside of 12.92% from the company’s previous close.

A number of other analysts have also commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $46.00 price target on shares of iTeos Therapeutics in a research note on Thursday, March 6th. JPMorgan Chase & Co. lowered shares of iTeos Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $15.00 to $8.00 in a research note on Tuesday. Wells Fargo & Company reduced their price target on shares of iTeos Therapeutics from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Tuesday, April 29th. Finally, Wedbush reiterated an “outperform” rating and issued a $25.00 price target on shares of iTeos Therapeutics in a research note on Wednesday, March 5th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.86.

iTeos Therapeutics Stock Performance

NASDAQ:ITOS opened at $7.97 on Wednesday. The firm has a market cap of $305.04 million, a P/E ratio of -2.53 and a beta of 1.39. iTeos Therapeutics has a fifty-two week low of $4.80 and a fifty-two week high of $18.70. The firm has a 50-day simple moving average of $6.59 and a two-hundred day simple moving average of $7.42.

iTeos Therapeutics (NASDAQ:ITOS) last released its quarterly earnings data 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, equities research analysts predict that iTeos Therapeutics will post -3.49 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On iTeos Therapeutics

Large investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. lifted its holdings in shares of iTeos Therapeutics by 74.4% in the first quarter. RA Capital Management L.P. now owns 3,649,057 shares of the company’s stock worth $21,785,000 after buying an additional 1,556,798 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of iTeos Therapeutics in the first quarter worth $65,000. Cubist Systematic Strategies LLC lifted its holdings in shares of iTeos Therapeutics by 80.3% in the first quarter. Cubist Systematic Strategies LLC now owns 112,092 shares of the company’s stock worth $669,000 after buying an additional 49,914 shares in the last quarter. DAFNA Capital Management LLC lifted its holdings in shares of iTeos Therapeutics by 13.3% in the first quarter. DAFNA Capital Management LLC now owns 213,347 shares of the company’s stock worth $1,274,000 after buying an additional 25,000 shares in the last quarter. Finally, Trexquant Investment LP lifted its holdings in shares of iTeos Therapeutics by 4.7% in the first quarter. Trexquant Investment LP now owns 188,500 shares of the company’s stock worth $1,125,000 after buying an additional 8,534 shares in the last quarter. Hedge funds and other institutional investors own 97.16% of the company’s stock.

About iTeos Therapeutics

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.