Ikena Oncology, Inc. (NASDAQ:IKNA) Short Interest Update

Ikena Oncology, Inc. (NASDAQ:IKNA) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 129,900 shares, a decline of 12.1% from the October 15th total of 147,800 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average trading volume of 50,600 shares, the days-to-cover ratio is presently 2.6 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Ikena Oncology in a report on Monday, November 11th. Wedbush reaffirmed a “neutral” rating and issued a $2.00 target price on shares of Ikena Oncology in a research note on Thursday, November 7th.

Institutional Investors Weigh In On Ikena Oncology

Hedge funds have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. boosted its stake in Ikena Oncology by 813.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 513,440 shares of the company’s stock valued at $729,000 after purchasing an additional 457,245 shares during the period. Acadian Asset Management LLC grew its stake in shares of Ikena Oncology by 1,201.8% in the first quarter. Acadian Asset Management LLC now owns 282,782 shares of the company’s stock valued at $400,000 after acquiring an additional 261,060 shares in the last quarter. AQR Capital Management LLC bought a new position in Ikena Oncology during the second quarter worth about $36,000. BBR Partners LLC acquired a new stake in Ikena Oncology in the 2nd quarter worth about $33,000. Finally, Sofinnova Investments Inc. boosted its holdings in Ikena Oncology by 230.7% in the 2nd quarter. Sofinnova Investments Inc. now owns 382,616 shares of the company’s stock valued at $631,000 after purchasing an additional 266,904 shares during the period. Institutional investors and hedge funds own 75.00% of the company’s stock.

Ikena Oncology Stock Performance

NASDAQ:IKNA traded down $0.01 on Monday, hitting $1.68. 52,528 shares of the stock were exchanged, compared to its average volume of 242,826. The company’s 50-day moving average price is $1.71 and its 200 day moving average price is $1.65. The stock has a market capitalization of $80.84 million, a price-to-earnings ratio of -1.36 and a beta of 0.48. Ikena Oncology has a 52 week low of $1.22 and a 52 week high of $2.32.

Ikena Oncology (NASDAQ:IKNA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.08. As a group, equities research analysts predict that Ikena Oncology will post -0.91 earnings per share for the current year.

Ikena Oncology Company Profile

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.