Sofinnova Investments Inc. Grows Stock Holdings in Ikena Oncology, Inc. (NASDAQ:IKNA)

Sofinnova Investments Inc. boosted its holdings in Ikena Oncology, Inc. (NASDAQ:IKNA) by 230.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 382,616 shares of the company’s stock after buying an additional 266,904 shares during the period. Sofinnova Investments Inc. owned 0.79% of Ikena Oncology worth $631,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. JBF Capital Inc. purchased a new stake in shares of Ikena Oncology during the second quarter worth about $120,000. Acadian Asset Management LLC boosted its stake 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. BBR Partners LLC purchased a new stake in Ikena Oncology during the 2nd quarter valued at approximately $33,000. Deuterium Capital Management LLC bought a new stake in shares of Ikena Oncology during the second quarter valued at approximately $133,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Ikena Oncology by 813.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 513,440 shares of the company’s stock worth $729,000 after buying an additional 457,245 shares in the last quarter. 75.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $4.00 target price on shares of Ikena Oncology in a research note on Monday, August 12th. Wedbush lowered Ikena Oncology from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $8.00 to $2.00 in a research report on Wednesday, May 29th.

Ikena Oncology Stock Performance

IKNA stock opened at $1.72 on Tuesday. The firm has a fifty day moving average price of $1.69 and a 200 day moving average price of $1.56. Ikena Oncology, Inc. has a fifty-two week low of $1.02 and a fifty-two week high of $4.95. The firm has a market cap of $83.00 million, a PE ratio of -1.09 and a beta of 0.48.

Ikena Oncology (NASDAQ:IKNA) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.04. On average, equities analysts predict that Ikena Oncology, Inc. will post -1.03 EPS for the current year.

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.