Wedbush Reaffirms “Neutral” Rating for Ikena Oncology (NASDAQ:IKNA)

Ikena Oncology (NASDAQ:IKNA)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Wedbush in a research note issued to investors on Thursday,RTT News reports. They presently have a $2.00 target price on the stock. Wedbush’s price target points to a potential upside of 13.64% from the company’s previous close.

Separately, HC Wainwright restated a “buy” rating and issued a $4.00 price target on shares of Ikena Oncology in a research note on Monday, August 12th.

Ikena Oncology Stock Performance

Shares of IKNA stock opened at $1.76 on Thursday. The stock has a fifty day simple moving average of $1.70 and a two-hundred day simple moving average of $1.63. The firm has a market capitalization of $84.93 million, a PE ratio of -1.18 and a beta of 0.48. Ikena Oncology has a 52-week low of $1.02 and a 52-week high of $3.92.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IKNA. Jacobs Levy Equity Management Inc. lifted its position 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. Acadian Asset Management LLC increased its stake in Ikena Oncology by 1,201.8% in the 1st quarter. Acadian Asset Management LLC now owns 282,782 shares of the company’s stock worth $400,000 after acquiring an additional 261,060 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Ikena Oncology during the 2nd quarter worth approximately $36,000. BBR Partners LLC bought a new position in shares of Ikena Oncology during the 2nd quarter valued at approximately $33,000. Finally, Sofinnova Investments Inc. grew its holdings in shares of Ikena Oncology by 230.7% in the second 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 in the last quarter. Institutional investors own 75.00% of the company’s stock.

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.