Ikena Oncology, Inc. (NASDAQ:IKNA) Sees Significant Growth in Short Interest

Ikena Oncology, Inc. (NASDAQ:IKNAGet Free Report) was the target of a significant increase in short interest in May. As of May 31st, there was short interest totalling 1,550,000 shares, an increase of 12.3% from the May 15th total of 1,380,000 shares. Approximately 6.6% of the company’s stock are short sold. Based on an average trading volume of 337,100 shares, the short-interest ratio is currently 4.6 days.

Institutional Trading of Ikena Oncology

Institutional investors have recently modified their holdings of the business. Barclays PLC lifted its holdings in shares of Ikena Oncology by 2.1% during the 3rd quarter. Barclays PLC now owns 206,545 shares of the company’s stock worth $894,000 after acquiring an additional 4,343 shares during the last quarter. CHI Advisors LLC lifted its stake in Ikena Oncology by 2.8% during the third quarter. CHI Advisors LLC now owns 2,180,934 shares of the company’s stock worth $9,443,000 after purchasing an additional 58,894 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Ikena Oncology by 5.2% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 407,900 shares of the company’s stock worth $1,766,000 after purchasing an additional 20,000 shares in the last quarter. Laurion Capital Management LP lifted its position in Ikena Oncology by 3.3% in the 3rd quarter. Laurion Capital Management LP now owns 534,657 shares of the company’s stock worth $2,315,000 after buying an additional 17,094 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Ikena Oncology by 88.5% in the fourth quarter. SG Americas Securities LLC now owns 20,222 shares of the company’s stock worth $40,000 after buying an additional 9,495 shares in the last quarter. 75.00% of the stock is currently owned by hedge funds and other institutional investors.

Ikena Oncology Stock Down 1.1 %

NASDAQ:IKNA traded down $0.02 during trading hours on Friday, hitting $1.75. 147,449 shares of the company traded hands, compared to its average volume of 466,204. The company has a market cap of $84.46 million, a PE ratio of -1.11 and a beta of 0.49. The firm’s 50-day simple moving average is $1.44 and its 200-day simple moving average is $1.55. Ikena Oncology has a one year low of $1.02 and a one year high of $7.38.

Ikena Oncology (NASDAQ:IKNAGet Free Report) last announced its earnings results on Monday, May 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.12. As a group, equities research analysts expect that Ikena Oncology will post -1.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. HC Wainwright lowered their price objective on shares of Ikena Oncology from $11.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. Wedbush cut shares of Ikena Oncology from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $8.00 to $2.00 in a research report on Wednesday, May 29th.

Check Out Our Latest Analysis on Ikena Oncology

About Ikena Oncology

(Get Free Report)

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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