Inhibikase Therapeutics (NYSE:IKT) Stock Price Up 4.9% – What’s Next?

Inhibikase Therapeutics, Inc. (NYSE:IKT) shares shot up 4.9% during trading on Monday . The company traded as high as $2.40 and last traded at $2.36. 175,997 shares were traded during mid-day trading, a decline of 20% from the average session volume of 220,970 shares. The stock had previously closed at $2.25.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright downgraded Inhibikase Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday, February 12th.

Inhibikase Therapeutics Trading Up 4.9 %

The business’s 50 day simple moving average is $2.51 and its two-hundred day simple moving average is $2.33. The firm has a market capitalization of $163.69 million, a PE ratio of -0.88 and a beta of 1.04.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Jefferies Financial Group Inc. purchased a new stake in Inhibikase Therapeutics in the fourth quarter worth about $48,000. Alpine Global Management LLC bought a new position in shares of Inhibikase Therapeutics during the 4th quarter valued at approximately $48,000. Soleus Capital Management L.P. purchased a new stake in Inhibikase Therapeutics in the 4th quarter worth approximately $20,556,000. Squarepoint Ops LLC bought a new stake in Inhibikase Therapeutics during the 4th quarter worth approximately $92,000. Finally, Stonepine Capital Management LLC purchased a new position in Inhibikase Therapeutics during the fourth quarter valued at approximately $3,680,000. Hedge funds and other institutional investors own 3.81% of the company’s stock.

About Inhibikase Therapeutics

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 non-receptor Abelson tyrosine kinase inhibitor, which is in Phase 2a clinical trials to the treatment of Parkinson’s disease and gastrointestinal tract.