IO Biotech (IOBT) Stock: $21 Price Target From Morgan Stanley

By Amit Chowdhry ● Dec 3, 2021
  • The shares of IO Biotech Inc (NASDAQ: IOBT) have received a $21 price target from Morgan Stanley. These are the details.

The shares of IO Biotech Inc (NASDAQ: IOBT) have received a $21 price target from Morgan Stanley. And Morgan Stanley analyst Matthew Harrison initiated coverage of IO Biotech with an “Overweight” rating.

Harrison noted that the company’s T-win peptide vaccine could potentially address the limitations and challenges associated with the current immunotherapies. And the strong early clinical data in melanoma from lead asset IO102-103 provides early de-risking of other data readouts coming in next year and the year after. 

Harrison is currently valuing IO102-103 with a 60% probability of success in metastatic melanoma.

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