Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Short Interest Up 52.2% in February

Inhibikase Therapeutics, Inc. (NASDAQ:IKT) was the target of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 16,041,114 shares, an increase of 52.2% from the February 12th total of 10,541,776 shares. Based on an average daily trading volume, of 3,478,233 shares, the short-interest ratio is currently 4.6 days. Approximately 23.0% of the company’s shares are short sold. Approximately 23.0% of the company’s shares are short sold. Based on an average daily trading volume, of 3,478,233 shares, the short-interest ratio is currently 4.6 days.

Inhibikase Therapeutics Stock Performance

Inhibikase Therapeutics stock opened at $2.00 on Monday. Inhibikase Therapeutics has a fifty-two week low of $1.33 and a fifty-two week high of $2.58. The firm’s 50 day moving average price is $1.78. The company has a market cap of $150.36 million, a PE ratio of -5.13 and a beta of 0.76.

Institutional Investors Weigh In On Inhibikase Therapeutics

Several hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in Inhibikase Therapeutics in the fourth quarter worth $26,000. BNP Paribas Financial Markets boosted its holdings in shares of Inhibikase Therapeutics by 70.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,640 shares of the company’s stock valued at $25,000 after buying an additional 6,458 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Inhibikase Therapeutics during the 2nd quarter valued at $34,000. XTX Topco Ltd purchased a new stake in shares of Inhibikase Therapeutics in the 4th quarter worth about $42,000. Finally, Virtu Financial LLC grew its position in shares of Inhibikase Therapeutics by 70.1% in the 4th quarter. Virtu Financial LLC now owns 22,869 shares of the company’s stock worth $47,000 after buying an additional 9,423 shares during the period. 3.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on IKT shares. Cantor Fitzgerald initiated coverage on Inhibikase Therapeutics in a research note on Thursday, December 11th. They set an “overweight” rating and a $4.00 price objective for the company. Zacks Research upgraded shares of Inhibikase Therapeutics to a “hold” rating in a report on Tuesday, December 2nd. Jefferies Financial Group reissued a “buy” rating on shares of Inhibikase Therapeutics in a research report on Monday, December 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Thursday, January 22nd. Finally, LADENBURG THALM/SH SH started coverage on shares of Inhibikase Therapeutics in a research report on Wednesday, March 4th. They issued a “buy” rating and a $4.00 price objective on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Inhibikase Therapeutics currently has an average rating of “Buy” and an average target price of $5.50.

About Inhibikase Therapeutics

Inhibikase Therapeutics, Inc, a clinical stage pharmaceutical company, develops therapeutics for Parkinson’s Disease (PD) and related disorders that arise inside and outside of the brain. The company’s product candidates include IkT-148009, a small molecule Abelson tyrosine kinase inhibitor for use in the treatment of PD, as well as gastrointestinal complications that arise as early symptoms of PD, such as swallowing, dysphagia, neurogenic constipation, and multiple system atrophy; and IkT-001Pro, a prodrug of the anti-cancer agent Imatinib that is in preclinical development to minimize gastrointestinal side effects and for the treatment of blood and stomach cancers.