Whitehawk Therapeutics (NASDAQ:WHWK) Stock Price Down 2.7% – Here’s What Happened

Shares of Whitehawk Therapeutics, Inc. (NASDAQ:WHWK) dropped 2.7% on Monday . The stock traded as low as $2.50 and last traded at $2.57. Approximately 138,078 shares traded hands during trading, an increase of 13% from the average daily volume of 121,961 shares. The stock had previously closed at $2.64.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Whitehawk Therapeutics in a research report on Monday, December 29th. Jones Trading began coverage on shares of Whitehawk Therapeutics in a report on Monday, December 22nd. They issued a “buy” rating and a $7.00 target price on the stock. Zacks Research upgraded shares of Whitehawk Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 7th. Finally, Wall Street Zen lowered shares of Whitehawk Therapeutics to a “strong sell” rating in a research report on Saturday, November 1st. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $7.00.

Whitehawk Therapeutics Price Performance

The firm’s fifty day simple moving average is $2.37 and its 200 day simple moving average is $2.10. The company has a market capitalization of $121.12 million, a price-to-earnings ratio of 18.36 and a beta of 0.47.

Whitehawk Therapeutics (NASDAQ:WHWK) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Orbimed Advisors LLC acquired a new position in Whitehawk Therapeutics during the third quarter valued at $7,915,000. Suvretta Capital Management LLC purchased a new position in Whitehawk Therapeutics during the 3rd quarter valued at about $7,030,000. Acuta Capital Partners LLC acquired a new position in shares of Whitehawk Therapeutics in the 3rd quarter valued at about $6,480,000. Avoro Capital Advisors LLC purchased a new stake in shares of Whitehawk Therapeutics in the third quarter worth approximately $5,414,000. Finally, Yu Fan purchased a new stake in shares of Whitehawk Therapeutics in the third quarter worth approximately $3,933,000. Hedge funds and other institutional investors own 52.08% of the company’s stock.

Whitehawk Therapeutics Company Profile

Aadi Bioscience, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing precision therapies for genetically defined cancers with alterations in mTOR pathway genes. Its lead drug candidate, FYARRO is a form of sirolimus bound to albumin. Aadi is evaluating FYARRO in cancers with known mTOR pathway activation, including tumor agnostic indications targeting specific genomic alterations that activate the mTOR pathway. The company was incorporated in 2007 and is headquartered in Pacific Palisades, California.