Ikena Oncology, Inc. (NASDAQ:IKNA) Short Interest Down 12.1% in October

Ikena Oncology, Inc. (NASDAQ:IKNA) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 129,900 shares, a drop of 12.1% from the October 15th total of 147,800 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily volume of 50,600 shares, the days-to-cover ratio is presently 2.6 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IKNA. Acadian Asset Management LLC lifted its holdings in Ikena Oncology by 1,201.8% during the 1st quarter. Acadian Asset Management LLC now owns 282,782 shares of the company’s stock valued at $400,000 after buying an additional 261,060 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Ikena Oncology by 813.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 513,440 shares of the company’s stock worth $729,000 after acquiring an additional 457,245 shares during the period. Deuterium Capital Management LLC bought a new stake in shares of Ikena Oncology during the second quarter valued at approximately $133,000. BBR Partners LLC purchased a new stake in shares of Ikena Oncology in the second quarter valued at approximately $33,000. Finally, JBF Capital Inc. bought a new position in Ikena Oncology in the second quarter worth approximately $120,000. 75.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IKNA shares. HC Wainwright restated a “buy” rating and issued a $4.00 target price on shares of Ikena Oncology in a report on Monday, November 11th. Wedbush reissued a “neutral” rating and set a $2.00 price objective on shares of Ikena Oncology in a research note on Thursday, November 7th.

Ikena Oncology Trading Down 0.9 %

Shares of IKNA stock traded down $0.01 during trading hours on Monday, reaching $1.68. 52,528 shares of the stock were exchanged, compared to its average volume of 242,826. Ikena Oncology has a 12-month low of $1.22 and a 12-month high of $2.32. The company’s 50-day moving average price is $1.71 and its 200-day moving average price is $1.65. The firm has a market capitalization of $80.84 million, a price-to-earnings ratio of -1.36 and a beta of 0.48.

Ikena Oncology (NASDAQ:IKNA) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.08. On average, sell-side analysts expect that Ikena Oncology will post -0.91 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.