Fintel reports that on August 13, 2024, Wells Fargo initiated coverage of iTeos Therapeutics (NasdaqGM:ITOS) with a Overweight recommendation.
Analyst Price Forecast Suggests 163.79% Upside
As of August 6, 2024, the average one-year price target for iTeos Therapeutics is $38.25/share. The forecasts range from a low of $21.21 to a high of $49.35. The average price target represents an increase of 163.79% from its latest reported closing price of $14.50 / share.
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The projected annual revenue for iTeos Therapeutics is 2MM, a decrease of 94.82%. The projected annual non-GAAP EPS is -6.44.
What is the Fund Sentiment?
There are 312 funds or institutions reporting positions in iTeos Therapeutics. This is an decrease of 20 owner(s) or 6.02% in the last quarter. Average portfolio weight of all funds dedicated to ITOS is 0.11%, an increase of 4.51%. Total shares owned by institutions increased in the last three months by 1.57% to 36,604K shares. 
The put/call ratio of ITOS is 4.52, indicating a bearish outlook.
What are Other Shareholders Doing?
Ra Capital Management holds 4,417K shares representing 12.09% ownership of the company. No change in the last quarter.
Mpm Asset Management holds 2,739K shares representing 7.50% ownership of the company. No change in the last quarter.
EcoR1 Capital holds 1,999K shares representing 5.47% ownership of the company. In its prior filing, the firm reported owning 1,115K shares , representing an increase of 44.23%. The firm increased its portfolio allocation in ITOS by 117.58% over the last quarter.
Boxer Capital holds 1,804K shares representing 4.94% ownership of the company. No change in the last quarter.
MPM Oncology Impact Management holds 1,746K shares representing 4.78% ownership of the company. No change in the last quarter.
ITeos Therapeutics Background Information
(This description is provided by the company.)
iTeos Therapeutics is a clinical-stage biopharmaceutical company pioneering the discovery and development of a new generation of highly differentiated immuno-oncology therapeutics for patients. iTeos Therapeutics leverages its deep understanding of cancer immunology and immunosuppressive pathways to design novel product candidates with the potential to fully restore the immune response against cancer. The Company’s innovative pipeline includes two clinical-stage programs targeting novel, validated immuno-oncology pathways designed with optimized pharmacologic properties for improved clinical outcomes. The initial antibody product candidate, EOS-448, is a high affinity, potent, anti-TIGIT antibody with a functional Fc domain, designed to enhance the anti-tumor response through a multifaceted immune modulatory mechanism. An open-label Phase 1/2a clinical trial of EOS-448 is ongoing in adult cancer patients with advanced solid tumors with preliminary data indicating clinical activity as a monotherapy and a favorable tolerability profile. The Company is also advancing inupadenant, a next-generation adenosine A2A receptor antagonist tailored to overcome cancer immunosuppression. iTeos is conducting an open-label multi-arm Phase 1/2a clinical trial of inupadenant in adult cancer patients with advanced solid tumors. Preliminary results indicate encouraging single-agent activity in the dose escalation portion of the trial. iTeos Therapeutics is headquartered in Cambridge, MA with a research center in Gosselies, Belgium.
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