Inhibikase Therapeutics (NYSE:IKT) Stock Price Up 7% – What’s Next?

Shares of Inhibikase Therapeutics, Inc. (NYSE:IKT) shot up 7% during trading on Friday . The company traded as high as $2.98 and last traded at $2.92. 179,157 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 197,465 shares. The stock had previously closed at $2.73.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Jefferies Financial Group started coverage on shares of Inhibikase Therapeutics in a report on Friday, November 8th. They issued a “buy” rating and a $8.00 price target on the stock. HC Wainwright reduced their price target on Inhibikase Therapeutics from $15.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, October 14th.

Inhibikase Therapeutics Stock Up 7.0 %

The stock has a market capitalization of $196.19 million, a PE ratio of -1.09 and a beta of 1.11. The firm’s fifty day moving average price is $2.02 and its two-hundred day moving average price is $1.66.

Insider Buying and Selling at Inhibikase Therapeutics

In related news, Director Arvind Kush purchased 145,000 shares of Inhibikase Therapeutics stock in a transaction on Monday, October 21st. The stock was acquired at an average price of $1.37 per share, for a total transaction of $198,650.00. Following the completion of the transaction, the director now directly owns 145,000 shares in the company, valued at $198,650. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.59% of the company’s stock.

Institutional Trading of Inhibikase Therapeutics

An institutional investor recently bought a new position in Inhibikase Therapeutics stock. Armistice Capital LLC purchased a new position in Inhibikase Therapeutics, Inc. (NYSE:IKT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 589,575 shares of the company’s stock, valued at approximately $713,000. Armistice Capital LLC owned approximately 8.17% of Inhibikase Therapeutics at the end of the most recent quarter. 3.81% of the stock is currently owned by institutional investors.

About Inhibikase Therapeutics

Inhibikase Therapeutics, Inc, a clinical-stage pharmaceutical company, develops therapeutics for Parkinson’s disease and related disorders. Its lead product candidate is IkT-148009, a non-receptor Abelson tyrosine kinase inhibitor, which is in Phase 2a clinical trials to the treatment of Parkinson’s disease and gastrointestinal tract.