UBS AM Reduces Holdings in iTeos Therapeutics

On December 21, 2024, UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC, announced a 4.0% decrease in its shareholding of iTeos Therapeutics, Inc. (NASDAQ:ITOS). This move occurred during the third quarter, as detailed in their latest disclosure to the Securities and Exchange Commission. After a sale of 2,333 shares, UBS AM now holds 56,507 shares worth approximately $577,000.

In addition to UBS AM’s adjustment, numerous other hedge funds and institutional investors have also altered their stakes in iTeos Therapeutics recently. Clearline Capital LP acquired a new position valued at around $2,328,000 during the second quarter. Similarly, Algert Global LLC boosted its holdings by 92.0% in the third quarter, bringing its total to 256,139 shares worth $2,615,000 after purchasing an additional 122,730 shares.

Candriam S.C.A. also invested in iTeos Therapeutics in the second quarter with a stake valued at approximately $7,558,000. Furthermore, Dimensional Fund Advisors LP raised its position by 14.8%, increasing its shares to 908,329, valued at $13,481,000 following an additional acquisition of 117,159 shares. Lastly, Charles Schwab Investment Management Inc. raised its stake by 3.9% in the third quarter to own 222,135 shares valued at $2,268,000. Currently, institutional investors and hedge funds hold approximately 97.16% of iTeos Therapeutics stocks.

iTeos Therapeutics Stock Performance

As of Friday, shares of iTeos Therapeutics opened at $7.42. The company has a market capitalization of $271.08 million, a negative PE ratio of -2.36, and a beta of 1.37. Over the past year, the stock has reached a low of $7.09 and a high of $18.75. The fifty-day simple moving average stands at $8.54, while the 200-day moving average is $12.65.

In its latest financial report, iTeos Therapeutics disclosed earnings on November 12th, where it reported an EPS of ($1.05), surpassing analyst predictions of ($1.18) by $0.13. Analysts project that the company will post an average earnings per share of -3.46 for the ongoing year.

Insider Transactions

Recently, in other news regarding iTeos Therapeutics, CFO Matthew Gall acquired 5,000 shares on November 19th at an average price of $7.73 per share, totaling an investment of $38,650. Following this transaction, the CFO’s total shareholding increased to 65,429 shares, valued at about $505,766.17, marking an 8.27% rise in his ownership. This acquisition was formally disclosed to the SEC.

Analyst Ratings

Several research firms have revised their views on iTeos Therapeutics following recent developments. Wells Fargo lowered its price target from $31.00 to $19.00 while maintaining an “overweight” rating. On the other hand, Wedbush affirmed an “outperform” rating, setting a target price of $25.00 for the shares in a report from December 12th. HC Wainwright also reiterated a “buy” rating with a price target of $21.00 in a December 13th report.

Overview of iTeos Therapeutics

iTeos Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing immuno-oncology treatments for cancer patients. Their lead product candidate is belrestotug, which targets TIGIT, a T-cell immunoreceptor, and is currently in Phase 1b clinical trials. This treatment aims to activate critical immune cells to enhance the body's response against cancer.

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