Ikena Oncology (NASDAQ:IKNA) Stock Price Down 0.7% – Here’s What Happened

Ikena Oncology, Inc. (NASDAQ:IKNA)’s share price dropped 0.7% on Thursday . The company traded as low as $1.42 and last traded at $1.45. Approximately 24,672 shares were traded during trading, a decline of 81% from the average daily volume of 132,445 shares. The stock had previously closed at $1.46.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IKNA. HC Wainwright restated a “buy” rating and set a $4.00 price target on shares of Ikena Oncology in a report on Monday, November 11th. Wedbush reiterated a “neutral” rating and issued a $2.00 price objective on shares of Ikena Oncology in a research report on Monday, December 23rd.

Ikena Oncology Trading Down 0.7 %

The company’s fifty day simple moving average is $1.57 and its 200 day simple moving average is $1.66. The firm has a market capitalization of $69.49 million, a P/E ratio of -1.17 and a beta of 0.48.

Ikena Oncology (NASDAQ:IKNA) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.08. On average, analysts predict that Ikena Oncology, Inc. will post -0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ikena Oncology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BML Capital Management LLC grew its stake in shares of Ikena Oncology by 395.8% in the 4th quarter. BML Capital Management LLC now owns 3,585,866 shares of the company’s stock worth $5,881,000 after buying an additional 2,862,578 shares during the last quarter. Peapod Lane Capital LLC purchased a new stake in shares of Ikena Oncology in the fourth quarter worth $833,000. BBR Partners LLC increased its holdings in shares of Ikena Oncology by 550.0% during the third quarter. BBR Partners LLC now owns 130,000 shares of the company’s stock valued at $225,000 after acquiring an additional 110,000 shares in the last quarter. NEA Management Company LLC raised its position in shares of Ikena Oncology by 5.3% in the 3rd quarter. NEA Management Company LLC now owns 600,063 shares of the company’s stock worth $1,038,000 after purchasing an additional 30,013 shares during the last quarter. Finally, AQR Capital Management LLC bought a new position in Ikena Oncology in the 2nd quarter worth about $36,000. 75.00% of the stock is owned by hedge funds and other institutional investors.

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.