Wells Fargo & Company Lowers iTeos Therapeutics (NASDAQ:ITOS) Price Target to $19.00

iTeos Therapeutics (NASDAQ:ITOS) had its price objective decreased by Wells Fargo & Company from $31.00 to $19.00 in a report issued on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

ITOS has been the subject of several other research reports. HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of iTeos Therapeutics in a research note on Friday, December 13th. Wedbush reiterated an “outperform” rating and issued a $25.00 price objective on shares of iTeos Therapeutics in a research note on Thursday, December 12th.

iTeos Therapeutics Stock Performance

NASDAQ:ITOS traded up $0.06 during mid-day trading on Thursday, reaching $7.28. 306,877 shares of the company’s stock were exchanged, compared to its average volume of 443,822. iTeos Therapeutics has a one year low of $7.09 and a one year high of $18.75. The firm has a market capitalization of $265.97 million, a PE ratio of -2.31 and a beta of 1.37. The business’s fifty day simple moving average is $8.59 and its two-hundred day simple moving average is $12.71.

iTeos Therapeutics (NASDAQ:ITOS) last posted its earnings results on Tuesday, November 12th. The company reported ($1.05) EPS for the quarter, topping the consensus estimate of ($1.18) by $0.13. As a group, equities research analysts forecast that iTeos Therapeutics will post -3.46 EPS for the current year.

Insider Activity

In other news, CFO Matthew Gall acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were acquired at an average price of $7.73 per share, for a total transaction of $38,650.00. Following the completion of the purchase, the chief financial officer now owns 65,429 shares in the company, valued at approximately $505,766.17. This trade represents a 8.27 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 12.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On iTeos Therapeutics

Institutional investors have recently bought and sold shares of the company. nVerses Capital LLC lifted its position in shares of iTeos Therapeutics by 212.5% during the third quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $26,000 after acquiring an additional 1,700 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of iTeos Therapeutics in the third quarter worth $31,000. China Universal Asset Management Co. Ltd. raised its position in shares of iTeos Therapeutics by 60.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,024 shares of the company’s stock worth $72,000 after buying an additional 2,646 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of iTeos Therapeutics in the third quarter worth $102,000. Finally, Quest Partners LLC increased its stake in iTeos Therapeutics by 914.7% in the third quarter. Quest Partners LLC now owns 11,020 shares of the company’s stock valued at $113,000 after acquiring an additional 9,934 shares during the last quarter. Hedge funds and other institutional investors own 97.16% of the company’s stock.

About iTeos Therapeutics

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.