Wells Fargo & Company Reiterates “Equal Weight” Rating for iTeos Therapeutics (NASDAQ:ITOS)

iTeos Therapeutics (NASDAQ:ITOS)‘s stock had its “equal weight” rating restated by stock analysts at Wells Fargo & Company in a research note issued on Wednesday, Marketbeat reports. They presently have a $12.00 target price on the stock, down from their previous target price of $13.00. Wells Fargo & Company‘s price objective indicates a potential upside of 19.64% from the company’s current price.

A number of other research firms have also recently weighed in on ITOS. JPMorgan Chase & Co. cut shares of iTeos Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $15.00 to $8.00 in a report on Tuesday, May 13th. Leerink Partners restated a “market perform” rating and issued a $9.00 price target (down from $47.00) on shares of iTeos Therapeutics in a report on Wednesday, May 14th. Wedbush cut shares of iTeos Therapeutics from an “outperform” rating to a “neutral” rating and raised their price target for the company from $10.00 to $12.00 in a report on Wednesday. Raymond James set a $12.00 price target on shares of iTeos Therapeutics in a report on Wednesday, May 14th. Finally, HC Wainwright cut shares of iTeos Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday, May 14th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, iTeos Therapeutics has a consensus rating of “Hold” and an average price target of $15.86.

iTeos Therapeutics Stock Performance

NASDAQ ITOS opened at $10.03 on Wednesday. The company has a market capitalization of $383.89 million, a price-to-earnings ratio of -3.18 and a beta of 1.39. The company’s 50-day simple moving average is $6.92 and its two-hundred day simple moving average is $7.40. iTeos Therapeutics has a one year low of $4.80 and a one year high of $18.13.

iTeos Therapeutics (NASDAQ:ITOS) last released 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. Equities analysts expect that iTeos Therapeutics will post -3.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 completion of the sale, the insider now directly owns 2,108,594 shares in the company, valued at approximately $16,995,267.64. The trade was a 23.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 sale, the insider now owns 3,452,797 shares of the company’s stock, valued at approximately $27,829,543.82. The trade was a 23.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.50% of the stock is owned by insiders.

Institutional Trading of iTeos Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of ITOS. Strs Ohio acquired a new stake in iTeos Therapeutics during the 1st quarter valued at approximately $31,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in iTeos Therapeutics during the 4th quarter valued at approximately $42,000. CWM LLC lifted its stake in iTeos Therapeutics by 428.7% during the 1st quarter. CWM LLC now owns 8,554 shares of the company’s stock valued at $51,000 after acquiring an additional 6,936 shares during the period. Paloma Partners Management Co acquired a new stake in iTeos Therapeutics during the 1st quarter valued at approximately $65,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in iTeos Therapeutics during the 1st quarter valued at approximately $67,000. 97.16% of the stock is currently owned by institutional investors and hedge funds.

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.