Inhibikase Therapeutics (NYSE:IKT) Stock Price Down 1.4%

Shares of Inhibikase Therapeutics, Inc. (NYSE:IKT) traded down 1.4% during mid-day trading on Thursday . The stock traded as low as $2.04 and last traded at $2.10. 27,598 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 126,159 shares. The stock had previously closed at $2.13.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of Inhibikase Therapeutics in a report on Tuesday, March 5th.

Inhibikase Therapeutics Trading Down 1.4 %

The firm has a market cap of $13.61 million, a price-to-earnings ratio of -0.59 and a beta of 1.19. The company has a fifty day moving average price of $2.24 and a 200-day moving average price of $1.67.

Inhibikase Therapeutics (NYSE:IKT) last released its quarterly earnings results on Wednesday, March 27th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.15. Inhibikase Therapeutics had a negative return on equity of 107.54% and a negative net margin of 5,886.15%. As a group, research analysts forecast that Inhibikase Therapeutics, Inc. will post -1.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inhibikase Therapeutics

Large investors have recently bought and sold shares of the business. Barclays PLC purchased a new stake in Inhibikase Therapeutics during the 2nd quarter worth approximately $41,000. Armistice Capital LLC purchased a new stake in shares of Inhibikase Therapeutics in the first quarter valued at approximately $1,947,000. Vanguard Group Inc. grew its position in shares of Inhibikase Therapeutics by 10.7% in the first quarter. Vanguard Group Inc. now owns 530,098 shares of the company’s stock valued at $785,000 after purchasing an additional 51,394 shares in the last quarter. Blair William & Co. IL grew its position in shares of Inhibikase Therapeutics by 20.5% in the first quarter. Blair William & Co. IL now owns 276,000 shares of the company’s stock valued at $181,000 after purchasing an additional 47,000 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Inhibikase Therapeutics by 17.7% in the second quarter. Renaissance Technologies LLC now owns 221,900 shares of the company’s stock valued at $165,000 after purchasing an additional 33,431 shares in the last quarter. Institutional investors and hedge funds own 3.81% of the company’s stock.

Inhibikase Therapeutics Company Profile

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 small molecule Abelson tyrosine kinase inhibitor, which is in Phase 2a clinical trials to the treatment of Parkinson's disease and gastrointestinal tract.