Is it Time to Dump IO Biotech Inc (IOBT) Stock After it Has Gained 32.06% in a Week?

IO Biotech Inc (IOBT) stock has risen 32.06% over the past week and gets a Bullish rating from InvestorsObserver Sentiment Indicator.

IO Biotech Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on IOBT!

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What is Stock Sentiment?

When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment. Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down. InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend. Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.

What's Happening With IOBT Stock Today?

IO Biotech Inc (IOBT) stock is trading at $6.92 as of 1:25 PM on Wednesday, Apr 6, a decline of -$1.07, or -13.39% from the previous closing price of $7.99. Volume today is above average. So far 365,952 shares have traded compared to average volume of 25,971 shares. The stock has traded between $6.70 and $9.77 so far today.

More About IO Biotech Inc

IO Biotech Inc is a clinical-stage biopharmaceutical company developing novel, immune-modulating cancer therapies based on T-win technology platform. The product candidates are designed to induce the immune system to simultaneously target and disrupt multiple pathways that regulate tumor-induced immunosuppression. Click Here to get the full Stock Report for IO Biotech Inc stock.