Inhibikase Therapeutics (NYSE:IKT) Trading 4.9% Higher – Time to Buy?

Inhibikase Therapeutics, Inc. (NYSE:IKT)’s share price traded up 4.9% on Monday . The stock 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.

Analysts Set New Price Targets

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

Inhibikase Therapeutics Stock Performance

The company has a market capitalization of $163.69 million, a PE ratio of -0.88 and a beta of 1.04. The stock has a fifty day moving average of $2.51 and a 200 day moving average of $2.33.

Hedge Funds Weigh In On Inhibikase Therapeutics

Institutional investors have recently bought and sold shares of the stock. Stifel Financial Corp bought a new position in Inhibikase Therapeutics during the fourth quarter valued at approximately $43,000. Jefferies Financial Group Inc. bought a new position in shares of Inhibikase Therapeutics during the 4th quarter valued at approximately $48,000. Alpine Global Management LLC bought a new position in shares of Inhibikase Therapeutics during the 4th quarter valued at approximately $48,000. Caxton Corp purchased a new position in shares of Inhibikase Therapeutics in the fourth quarter valued at $53,000. Finally, Squarepoint Ops LLC purchased a new stake in Inhibikase Therapeutics during the fourth quarter valued at $92,000. 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.