Ikena Oncology (NASDAQ:IKNA) Trading Down 3.9%

Ikena Oncology, Inc. (NASDAQ:IKNA – Get Rating)’s share price dropped 3.9% during mid-day trading on Tuesday . The company traded as low as $3.41 and last traded at $3.47. Approximately 206,250 shares were traded during trading, an increase of 33% from the average daily volume of 155,314 shares. The stock had previously closed at $3.61.

IKNA has been the topic of a number of recent analyst reports. Credit Suisse Group cut their target price on Ikena Oncology from $27.00 to $24.00 in a research report on Thursday, March 17th. HC Wainwright boosted their target price on Ikena Oncology from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, April 13th.

The stock has a market capitalization of $125.49 million, a price-to-earnings ratio of -3.02 and a beta of 1.24. The firm has a 50-day moving average of $4.31 and a two-hundred day moving average of $7.89.

Ikena Oncology (NASDAQ:IKNA – Get Rating) last posted its quarterly earnings results on Thursday, May 12th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.05). The company had revenue of $3.38 million during the quarter, compared to analysts’ expectations of $3.24 million. As a group, equities research analysts expect that Ikena Oncology, Inc. will post -1.92 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in Ikena Oncology by 65.9% during the third quarter. Geode Capital Management LLC now owns 194,461 shares of the company’s stock valued at $2,454,000 after buying an additional 77,211 shares during the period. New York State Common Retirement Fund grew its stake in Ikena Oncology by 75.7% in the fourth quarter. New York State Common Retirement Fund now owns 13,684 shares of the company’s stock valued at $172,000 after purchasing an additional 5,895 shares in the last quarter. Northern Trust Corp grew its stake in Ikena Oncology by 126.8% in the fourth quarter. Northern Trust Corp now owns 208,065 shares of the company’s stock valued at $2,610,000 after purchasing an additional 116,308 shares in the last quarter. BlackRock Inc. grew its stake in Ikena Oncology by 7.6% in the third quarter. BlackRock Inc. now owns 483,931 shares of the company’s stock valued at $6,107,000 after purchasing an additional 34,193 shares in the last quarter. Finally, Baystate Wealth Management LLC purchased a new position in Ikena Oncology in the fourth quarter valued at about $38,000. 67.33% of the stock is currently owned by hedge funds and other institutional investors.

About Ikena Oncology (NASDAQ:IKNA)

Ikena Oncology, Inc, a targeted oncology company, focuses on developing medicines tailored to biomarker-defined patient groups for specific unmet needs. Its lead targeted oncology product candidate is IK-930, an oral small molecule inhibitor of the transcriptional enhanced associate domain, transcription factor in the Hippo signaling pathway.

Read More