Ikena Oncology, Inc. (NASDAQ:IKNA) Short Interest Update

Ikena Oncology, Inc. (NASDAQ:IKNA) was the target of a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 1,050,000 shares, a growth of 32.4% from the July 31st total of 793,000 shares. Currently, 4.5% of the company’s shares are short sold. Based on an average trading volume of 119,400 shares, the short-interest ratio is currently 8.8 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IKNA. JPMorgan Chase & Co. grew its holdings in shares of Ikena Oncology by 25.4% in the first quarter. JPMorgan Chase & Co. now owns 17,172 shares of the company’s stock valued at $104,000 after purchasing an additional 3,482 shares in the last quarter. BlackRock Inc. increased its position in shares of Ikena Oncology by 9.5% in the 1st quarter. BlackRock Inc. now owns 1,493,161 shares of the company’s stock valued at $9,108,000 after purchasing an additional 129,284 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Ikena Oncology by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 789,999 shares of the company’s stock valued at $4,819,000 after purchasing an additional 7,605 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Ikena Oncology by 5.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 66,810 shares of the company’s stock valued at $408,000 after purchasing an additional 3,276 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Ikena Oncology by 18.8% in the 1st quarter. State Street Corp now owns 404,602 shares of the company’s stock valued at $2,468,000 after purchasing an additional 63,988 shares in the last quarter. Institutional investors and hedge funds own 86.01% of the company’s stock.

Ikena Oncology Stock Performance

Shares of IKNA stock opened at $4.75 on Wednesday. The stock has a market capitalization of $200.93 million, a P/E ratio of -2.79 and a beta of 0.77. The company has a 50 day moving average price of $5.58 and a 200 day moving average price of $5.31. Ikena Oncology has a fifty-two week low of $1.94 and a fifty-two week high of $7.64.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Ikena Oncology in a research note on Monday, August 7th.

Ikena Oncology Company Profile

Ikena Oncology, Inc operates as an oncology company that develops precision medicines to biomarker-defined patients with specific unmet needs in the United States. Its lead oncology product candidate is IK-930, a paralog selective inhibitor of the transcriptional enhanced associate domain, a transcription factor in the Hippo signaling pathway.