Whitehawk Therapeutics (NASDAQ:WHWK) Coverage Initiated by Analysts at Citizens Jmp

Citizens Jmp assumed coverage on shares of Whitehawk Therapeutics (NASDAQ:WHWK) in a research note published on Thursday,Benzinga reports. The firm issued a market outperform rating and a $8.00 price target on the stock.

A number of other equities research analysts also recently weighed in on WHWK. Wall Street Zen downgraded Whitehawk Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. JonesTrading assumed coverage on Whitehawk Therapeutics in a report on Monday, December 22nd. They issued a “buy” rating and a $7.00 price target for the company. Oppenheimer assumed coverage on Whitehawk Therapeutics in a report on Thursday, February 5th. They issued an “outperform” rating and a $6.00 price target for the company. Citigroup assumed coverage on Whitehawk Therapeutics in a report on Thursday. They issued an “outperform” rating for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Whitehawk Therapeutics in a report on Friday, March 27th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.00.

Whitehawk Therapeutics Stock Up 8.5%

WHWK stock opened at $4.23 on Thursday. Whitehawk Therapeutics has a 52-week low of $1.39 and a 52-week high of $4.48. The stock’s 50 day moving average is $3.43 and its two-hundred day moving average is $2.77. The company has a market capitalization of $199.66 million, a PE ratio of 9.00 and a beta of 0.57.

Whitehawk Therapeutics (NASDAQ:WHWK) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.21.

Insiders Place Their Bets

In other Whitehawk Therapeutics news, insider Bryan Ball sold 92,460 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $3.64, for a total transaction of $336,554.40. Following the completion of the transaction, the insider owned 397,106 shares in the company, valued at approximately $1,445,465.84. The trade was a 18.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO David James Lennon sold 102,395 shares of the business’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $3.51, for a total value of $359,406.45. Following the transaction, the chief executive officer owned 691,154 shares of the company’s stock, valued at $2,425,950.54. This trade represents a 12.90% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 486,758 shares of company stock valued at $1,702,536 in the last quarter. 49.90% of the stock is currently owned by insiders.

Institutional Trading of Whitehawk Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of WHWK. Quadrature Capital Ltd bought a new stake in shares of Whitehawk Therapeutics in the 4th quarter worth $28,000. ABG Innovation Capital Partners III GP Ltd acquired a new position in Whitehawk Therapeutics during the third quarter valued at $51,000. Dimensional Fund Advisors LP acquired a new position in Whitehawk Therapeutics during the third quarter valued at $84,000. Squarepoint Ops LLC acquired a new position in Whitehawk Therapeutics during the third quarter valued at $159,000. Finally, Marshall Wace LLP acquired a new position in Whitehawk Therapeutics during the fourth quarter valued at $164,000. Institutional investors own 52.08% of the company’s stock.

Key Headlines Impacting Whitehawk Therapeutics

Here are the key news stories impacting Whitehawk Therapeutics this week:

• Positive Sentiment: Analyst upgrade — Citizens Jmp initiated coverage with a “market outperform” rating and an $8.00 price target (roughly +89% from the current price), which can attract buying interest and raise expectations for upside. Citizens Jmp Coverage on WHWK
• Positive Sentiment: Management visibility — CEO Dave Lennon will participate in a virtual Jones Trading Post–AACR fireside chat on April 23. Such events can boost institutional and retail awareness of Whitehawk’s ADC-focused pipeline and near-term clinical plans. Whitehawk to Participate in Jones Trading Post-AACR Fireside Chat Series
• Neutral Sentiment: Press/retail coverage — A Yahoo Finance piece grouped WHWK among “promising penny stocks,” which can draw retail attention but is speculative and unlikely to change fundamentals. Discovering Whitehawk Therapeutics Among 3 Promising Penny Stocks
• Negative Sentiment: Insider selling — Director/officer Bryan Ball has sold multiple blocks recently (including 26,389 shares at ~$3.46 and larger sales the prior week). Filings say sales were to cover tax withholding on vesting awards, but heavy insider selling can spook investors and cap near-term upside. Insider Selling: WHWK

About Whitehawk Therapeutics

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.