Inhibikase Therapeutics (NYSE:IKT) Trading 3.4% Higher – Should You Buy?

Inhibikase Therapeutics, Inc. (NYSE:IKT) rose 3.4% during trading on Thursday . The stock traded as high as $3.10 and last traded at $3.06. Approximately 101,946 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 218,464 shares. The stock had previously closed at $2.96.

Wall Street Analysts Forecast Growth

IKT has been the subject of several recent research reports. Jefferies Financial Group started coverage on Inhibikase Therapeutics in a report on Friday, November 8th. They issued a “buy” rating and a $8.00 price target for the company. HC Wainwright dropped their price target on shares of Inhibikase Therapeutics from $15.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, October 14th.

Inhibikase Therapeutics Price Performance

The firm has a market cap of $204.94 million, a price-to-earnings ratio of -1.14 and a beta of 1.16. The business’s 50-day moving average price is $2.75 and its two-hundred day moving average price is $1.86.

Insider Activity

In other Inhibikase Therapeutics news, Director Arvind Kush purchased 145,000 shares of the company’s stock in a transaction on Monday, October 21st. The shares were purchased at an average cost of $1.37 per share, for a total transaction of $198,650.00. Following the completion of the transaction, the director now owns 145,000 shares in the company, valued at $198,650. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.59% of the company’s stock.

Institutional Investors Weigh In On Inhibikase Therapeutics

An institutional investor recently bought a new position in Inhibikase Therapeutics stock. Armistice Capital LLC purchased a new stake in shares of Inhibikase Therapeutics, Inc. (NYSE:IKT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 589,575 shares of the company’s stock, valued at approximately $713,000. Armistice Capital LLC owned 8.17% of Inhibikase Therapeutics at the end of the most recent quarter. 3.81% of the stock is currently 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.