Ikena Oncology’s (IKNA) Neutral Rating Reaffirmed at Wedbush

Wedbush reissued their neutral rating on shares of Ikena Oncology (NASDAQ:IKNA) in a report published on Thursday,RTT News reports. The brokerage currently has a $2.00 price target on the stock.

Separately, HC Wainwright reiterated a “buy” rating and set a $4.00 target price on shares of Ikena Oncology in a report on Monday, August 12th.

Ikena Oncology Stock Performance

Shares of NASDAQ IKNA traded up $0.01 during mid-day trading on Thursday, reaching $1.70. The company had a trading volume of 25,377 shares, compared to its average volume of 246,568. Ikena Oncology has a 12-month low of $1.02 and a 12-month high of $3.92. The company has a market capitalization of $82.04 million, a price-to-earnings ratio of -1.18 and a beta of 0.48. The stock has a fifty day moving average of $1.70 and a two-hundred day moving average of $1.63.

Ikena Oncology (NASDAQ:IKNA) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.04. Sell-side analysts forecast that Ikena Oncology will post -1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ikena Oncology

A number of hedge funds have recently made changes to their positions in the business. Blue Owl Capital Holdings LP lifted its holdings in shares of Ikena Oncology by 5.1% during the 2nd quarter. Blue Owl Capital Holdings LP now owns 4,091,118 shares of the company’s stock worth $6,750,000 after acquiring an additional 200,000 shares during the last quarter. BML Capital Management LLC increased its stake in shares of Ikena Oncology by 23.6% in the 3rd quarter. BML Capital Management LLC now owns 723,288 shares of the company’s stock worth $1,251,000 after acquiring an additional 138,174 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Ikena Oncology by 813.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 513,440 shares of the company’s stock valued at $729,000 after buying an additional 457,245 shares in the last quarter. Sofinnova Investments Inc. increased its position in shares of Ikena Oncology by 230.7% during the second quarter. Sofinnova Investments Inc. now owns 382,616 shares of the company’s stock valued at $631,000 after acquiring an additional 266,904 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in Ikena Oncology by 15.2% in the 2nd quarter. Acadian Asset Management LLC now owns 325,713 shares of the company’s stock worth $536,000 after purchasing an additional 42,931 shares during the period. 75.00% of the stock is currently owned by institutional investors.

About Ikena Oncology

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.