Inhibikase Therapeutics (NYSE:IKT) Cut to Neutral at HC Wainwright

HC Wainwright lowered shares of Inhibikase Therapeutics (NYSE:IKT) from a buy rating to a neutral rating in a research note published on Wednesday, Marketbeat reports.

Separately, Jefferies Financial Group initiated coverage on Inhibikase Therapeutics in a report on Friday, November 8th. They set a “buy” rating and a $8.00 target price for the company.

Inhibikase Therapeutics Stock Performance

Shares of IKT opened at $2.35 on Wednesday. The business has a 50-day moving average of $2.88 and a 200 day moving average of $2.17. Inhibikase Therapeutics has a fifty-two week low of $1.12 and a fifty-two week high of $4.20. The firm has a market cap of $163.00 million, a P/E ratio of -0.88 and a beta of 1.06.

Institutional Investors Weigh In On Inhibikase Therapeutics

Institutional investors have recently modified their holdings of the business. Northern Trust Corp purchased a new position in shares of Inhibikase Therapeutics during the 4th quarter valued at about $208,000. Stifel Financial Corp purchased a new position in Inhibikase Therapeutics during the 4th quarter valued at $43,000. Barclays PLC purchased a new stake in shares of Inhibikase Therapeutics in the 4th quarter worth $273,000. Geode Capital Management LLC lifted its holdings in shares of Inhibikase Therapeutics by 544.9% in the 4th quarter. Geode Capital Management LLC now owns 322,878 shares of the company’s stock worth $1,049,000 after buying an additional 272,813 shares during the period. Finally, Nantahala Capital Management LLC purchased a new stake in shares of Inhibikase Therapeutics in the 4th quarter worth $7,118,000. 3.81% of the stock is owned by hedge funds and other institutional investors.

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.