Wedbush Lowers Ikena Oncology (NASDAQ:IKNA) Price Target to $23.00

Ikena Oncology (NASDAQ:IKNA) had its target price dropped by equities research analysts at Wedbush from $25.00 to $23.00 in a research note issued on Friday, MarketBeat.com reports. The firm presently has a “neutral” rating on the stock.

Ikena Oncology Trading Up 4.4%

Shares of Ikena Oncology stock opened at $1.43 on Friday. The firm has a fifty day simple moving average of $1.31 and a 200-day simple moving average of $1.32. Ikena Oncology has a 1-year low of $0.97 and a 1-year high of $1.94. The stock has a market capitalization of $69.01 million, a price-to-earnings ratio of -2.23 and a beta of 0.50.

Ikena Oncology shares are going to reverse split on Monday, July 28th. The 1-12 reverse split was announced on Friday, July 25th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, July 25th.

Ikena Oncology (NASDAQ:IKNA) last posted its quarterly earnings results on Thursday, July 24th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.08. As a group, research analysts predict that Ikena Oncology will post -0.91 earnings per share for the current year.

Institutional Investors Weigh In On Ikena Oncology

A number of hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in Ikena Oncology by 18,244.1% during the 4th quarter. JPMorgan Chase & Co. now owns 155,741 shares of the company’s stock valued at $255,000 after purchasing an additional 154,892 shares in the last quarter. Geode Capital Management LLC increased its holdings in Ikena Oncology by 21.0% during the 4th quarter. Geode Capital Management LLC now owns 327,962 shares of the company’s stock valued at $538,000 after purchasing an additional 56,936 shares in the last quarter. Gilead Sciences Inc. acquired a new stake in Ikena Oncology during the 4th quarter valued at $3,294,000. Northern Trust Corp increased its stake in shares of Ikena Oncology by 19.7% in the fourth quarter. Northern Trust Corp now owns 57,565 shares of the company’s stock valued at $94,000 after buying an additional 9,456 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Ikena Oncology in the fourth quarter valued at $72,000. Institutional investors and hedge funds own 75.00% of the company’s stock.

About Ikena Oncology

Ikena Oncology, Inc operates as an oncology company that develops differentiated therapies for patients in need that target nodes of cancer growth, spread, and therapeutic resistance in the United States. Its lead program is IK-930, an internally discovered, oral, TEAD1-selective, small molecule inhibitor of the Hippo pathway.