Why ITeos Therapeutics (ITOS) Stock Is Moving Higher

ITeos Therapeutics, Inc. ITOS shares are trading higher Wednesday after the release of Roche's non-small cell lung cancer (NSCLC) data.

The Details:

Shares of ITOS are moving following the inadvertent release of the second interim analysis of Roche's Phase 3 SKYSCRAPER-01 study, evaluating tiragolumab plus Tecentriq (atezolizumab) versus Tecentriq alone as an initial (first-line) treatment for PD-L1-high locally advanced or metastatic non-small cell lung cancer (NSCLC).

The release of Roche's trial data is sending shares of similar drug companies higher.

ITeos Therapeutics shares are moving higher on heavy trading volume. According to Benzinga Pro, more than 7.2 million shares have already been traded in the session, compared to the stock's 100-day average of only 282.5 thousand shares.

Recently, HC Wainwright & Co. analyst Swayampakula Ramakanth maintained ITeos Therapeutics with a Buy and lowered the price target from $54 to $44.

ITeos Therapeutics is a biopharmaceutical company engaged in the discovery and development of immuno-oncology therapeutics for patients.

Related News: What's Going On With AMC Entertainment Stock: Will The Apes Hodl?

ITOS Price Action: According to Benzinga Pro, ITOS shares are up by 32% at $15.52 at the time of publication.

Image: HeungSoon from Pixabay