Whitehawk Therapeutics, Inc. (NASDAQ:WHWK) Short Interest Update

Whitehawk Therapeutics, Inc. (NASDAQ:WHWK) saw a large decline in short interest in August. As of August 31st, there was short interest totaling 2,981,829 shares, a decline of 40.7% from the August 15th total of 5,032,431 shares. Approximately 10.4% of the company’s stock are sold short. Based on an average daily volume of 238,372 shares, the short-interest ratio is presently 12.5 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Montanova Capital LLC grew its position in Whitehawk Therapeutics by 16.2% in the 2nd quarter. Montanova Capital LLC now owns 4,300,000 shares of the company’s stock worth $19,694,000 after purchasing an additional 600,000 shares during the period. Two Sigma Securities LLC bought a new position in shares of Whitehawk Therapeutics during the 2nd quarter valued at $46,000. Bank of America Corp DE purchased a new position in shares of Whitehawk Therapeutics in the 2nd quarter worth $159,000. ADAR1 Capital Management LLC purchased a new position in shares of Whitehawk Therapeutics in the 2nd quarter worth $6,144,000. Finally, BlackRock Inc. bought a new stake in shares of Whitehawk Therapeutics in the second quarter worth $8,807,000. Institutional investors own 52.08% of the company’s stock.

Whitehawk Therapeutics Price Performance

NASDAQ WHWK traded down $0.05 during trading hours on Wednesday, hitting $4.04. The company’s stock had a trading volume of 170,642 shares, compared to its average volume of 315,844. Whitehawk Therapeutics has a 12 month low of $1.82 and a 12 month high of $5.49. The company’s 50 day simple moving average is $4.29 and its two-hundred day simple moving average is $4.12. The company has a market cap of $230.32 million, a P/E ratio of -3.61 and a beta of 0.81.

Whitehawk Therapeutics (NASDAQ:WHWK) last posted its earnings results on Thursday, August 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.10. As a group, research analysts predict that Whitehawk Therapeutics will post -1.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Leerink Partners assumed coverage on shares of Whitehawk Therapeutics in a research note on Monday, July 13th. They set an “outperform” rating and a $9.00 price objective for the company. B. Riley Financial assumed coverage on shares of Whitehawk Therapeutics in a research note on Thursday, June 25th. They issued a “buy” rating and a $10.00 target price on the stock. Wall Street Zen upgraded shares of Whitehawk Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Whitehawk Therapeutics in a research report on Wednesday, September 2nd. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $8.20.

About Whitehawk Therapeutics

Whitehawk Therapeutics (NASDAQ: WHWK) is a clinical-stage biopharmaceutical company focused on developing new medicines for cancer. Its research is centered on antibody-drug conjugates, which are designed to use targeted antibodies to deliver cancer-killing agents directly to tumor cells.

The company is advancing a pipeline of oncology therapies intended to address cancers with significant unmet medical needs. Its activities include drug discovery, preclinical research and clinical development, with programs designed to evaluate the safety and potential effectiveness of its targeted therapeutic candidates.

Whitehawk Therapeutics is an early-stage biotechnology company, and its pipeline remains subject to the clinical, regulatory and commercialization risks associated with developing experimental medicines.