iTeos Therapeutics, Inc. (NASDAQ:ITOS) Major Shareholder Sells $5,079,339.46 in Stock

iTeos Therapeutics, Inc. (NASDAQ:ITOS) 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 value of $5,079,339.46. Following the completion of the transaction, the insider now owns 2,108,594 shares of the company’s stock, valued at approximately $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 this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

iTeos Therapeutics Trading Down 2.0%

Shares of NASDAQ ITOS opened at $7.81 on Friday. The stock has a 50 day simple moving average of $6.61 and a 200-day simple moving average of $7.41. The company has a market cap of $298.92 million, a PE ratio of -2.48 and a beta of 1.39. iTeos Therapeutics, Inc. has a 12-month low of $4.80 and a 12-month high of $18.70.

iTeos Therapeutics (NASDAQ:ITOS) last released its earnings results on Monday, April 28th. The company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.14. Sell-side analysts forecast that iTeos Therapeutics, Inc. will post -3.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on ITOS. Leerink Partners restated a “market perform” rating and issued a $9.00 target price (down from $47.00) on shares of iTeos Therapeutics in a research note on Wednesday. HC Wainwright downgraded iTeos Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday. Wedbush reiterated an “outperform” rating and set a $25.00 price objective on shares of iTeos Therapeutics in a research report on Wednesday, March 5th. Piper Sandler reiterated an “overweight” rating and set a $12.00 price objective (down from $16.00) on shares of iTeos Therapeutics in a research report on Wednesday. Finally, Leerink Partnrs downgraded iTeos Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $17.86.

Institutional Investors Weigh In On iTeos Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. lifted its position in 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 purchasing an additional 1,556,798 shares during the period. BVF Inc. IL lifted its position in iTeos Therapeutics by 32.3% in the first quarter. BVF Inc. IL now owns 3,075,000 shares of the company’s stock worth $18,358,000 after purchasing an additional 750,000 shares during the period. JPMorgan Chase & Co. lifted its position in iTeos Therapeutics by 342.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,068,796 shares of the company’s stock worth $15,888,000 after purchasing an additional 1,601,477 shares during the period. 683 Capital Management LLC lifted its position in iTeos Therapeutics by 90.6% in the first quarter. 683 Capital Management LLC now owns 1,750,000 shares of the company’s stock worth $10,448,000 after purchasing an additional 831,883 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in iTeos Therapeutics by 15.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,210,080 shares of the company’s stock worth $9,293,000 after purchasing an additional 163,880 shares during the period. 97.16% of the stock is currently owned by institutional investors and hedge funds.

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.