Inhibikase Therapeutics (NYSE:IKT) Trading 3.4% Higher – Still a Buy?

Inhibikase Therapeutics, Inc. (NYSE:IKT) shares shot up 3.4% during mid-day trading on Thursday . The company traded as high as $3.10 and last traded at $3.06. 101,946 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 218,464 shares. The stock had previously closed at $2.96.

Wall Street Analyst Weigh In

Several research firms have recently commented on IKT. HC Wainwright decreased their price objective 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. Jefferies Financial Group assumed coverage on shares of Inhibikase Therapeutics in a report on Friday, November 8th. They issued a “buy” rating and a $8.00 target price on the stock.

Inhibikase Therapeutics Stock Up 3.4 %

The stock’s 50 day moving average price is $2.74 and its 200-day moving average price is $1.85. The stock has a market capitalization of $205.61 million, a PE ratio of -1.15 and a beta of 1.16.

Insider Activity

In related news, Director Arvind Kush bought 145,000 shares of the business’s stock in a transaction on Monday, October 21st. The shares were bought at an average price of $1.37 per share, for a total transaction of $198,650.00. Following the completion of the purchase, the director now directly owns 145,000 shares of the company’s stock, valued at approximately $198,650. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.59% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Inhibikase Therapeutics stock. Armistice Capital LLC acquired a new position in Inhibikase Therapeutics, Inc. (NYSE:IKT) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 589,575 shares of the company’s stock, valued at approximately $713,000. Armistice Capital LLC owned about 8.17% of Inhibikase Therapeutics as of its most recent SEC filing. Institutional investors own 3.81% of the company’s stock.

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.