H.C. Wainwright Reiterates Buy Rating on IO Biotech, Keeps PT at $14

IO Biotech, Inc. (NASDAQ:IOBT) is one of the 11 Low Price High Volume Stocks to Buy According to Analysts. On August 15, H.C. Wainwright reiterated a Buy rating on IO Biotech, Inc. (NASDAQ:IOBT), keeping its price target at $14.

Emily Bodnar from H.C. Wainwright maintained the rating on IOBT based on the company’s recent development and future potential. The company’s pivotal phase 3 trial for the Cylembio therapy showed a clinically meaningful improvement in progression-free survival (PFS) for patients suffering from advanced melanoma. The analyst remains positive on the company’s development even though the trial narrowly missed its primary endpoint.

The company plans to submit a biologics license application to the U.S. FDA for Cylembio by the end of 2025. Moreover, IO Biotech’s pipeline includes promising phase 2 trials for other cancer types, with data expected in the near future. Bodnar sees these factors as contributing to the positive outlook. The company’s innovative therapies have the potential to address unmet medical needs in oncology.

IO Biotech, Inc. (NASDAQ:IOBT) is a clinical-stage biopharmaceutical firm that develops immune-modulating therapeutic cancer treatments or vaccines based on the T-win technology platform.

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Disclosure: None. This article is originally published at Insider Monkey.