Ikena Oncology, Inc. (NASDAQ:IKNA – Get Free Report) was the recipient of a large drop in short interest in January. As of January 31st, there was short interest totalling 114,900 shares, a drop of 11.8% from the January 15th total of 130,200 shares. Based on an average daily volume of 226,200 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.6% of the company’s stock are sold short.
Ikena Oncology Price Performance
NASDAQ:IKNA traded up $0.01 during mid-day trading on Tuesday, reaching $1.50. The stock had a trading volume of 51,997 shares, compared to its average volume of 169,087. The company has a market capitalization of $72.15 million, a price-to-earnings ratio of -1.22 and a beta of 0.48. Ikena Oncology has a 1-year low of $1.22 and a 1-year high of $1.94. The stock’s 50 day simple moving average is $1.54 and its two-hundred day simple moving average is $1.64.
Analysts Set New Price Targets
IKNA has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 target price on shares of Ikena Oncology in a research report on Monday, November 11th. Wedbush reaffirmed a “neutral” rating and issued a $2.00 price target on shares of Ikena Oncology in a report on Monday, December 23rd.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the company. AQR Capital Management LLC acquired a new stake in shares of Ikena Oncology during the 2nd quarter valued at approximately $36,000. FMR LLC increased its stake in Ikena Oncology by 94.1% during the third quarter. FMR LLC now owns 38,374 shares of the company’s stock valued at $66,000 after purchasing an additional 18,607 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Ikena Oncology during the fourth quarter worth $72,000. Squarepoint Ops LLC bought a new position in shares of Ikena Oncology in the 4th quarter worth about $72,000. Finally, Northern Trust Corp boosted its holdings in shares of Ikena Oncology by 19.7% in the 4th quarter. Northern Trust Corp now owns 57,565 shares of the company’s stock valued at $94,000 after buying an additional 9,456 shares during the period. Institutional investors own 75.00% of the company’s stock.
Ikena Oncology Company Profile
Ikena Oncology, Inc operates as an oncology company that develops differentiated therapies for patients in need that target nodes of cancer growth, spread, and therapeutic resistance in the United States. Its lead program is IK-930, an internally discovered, oral, TEAD1-selective, small molecule inhibitor of the Hippo pathway.
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