Ikena Oncology, Inc. (NASDAQ:IKNA) Sees Significant Decrease in Short Interest

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

Ikena Oncology Stock Performance

Shares of Ikena Oncology stock traded down $0.01 during trading on Monday, hitting $1.68. 52,528 shares of the stock traded hands, compared to its average volume of 242,826. The company has a fifty day moving average price of $1.71 and a two-hundred day moving average price of $1.65. Ikena Oncology has a twelve month low of $1.22 and a twelve month high of $2.32. The stock has a market cap of $80.84 million, a P/E ratio of -1.36 and a beta of 0.48.

Ikena Oncology (NASDAQ:IKNA) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.08. On average, equities research analysts expect that Ikena Oncology will post -0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC acquired a new stake in Ikena Oncology in the 2nd quarter worth $30,000. BBR Partners LLC bought a new stake in Ikena Oncology in the second quarter valued at about $33,000. AQR Capital Management LLC acquired a new position in Ikena Oncology in the second quarter worth about $36,000. FMR LLC boosted its holdings in Ikena Oncology by 94.1% during the third quarter. FMR LLC now owns 38,374 shares of the company’s stock valued at $66,000 after purchasing an additional 18,607 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Ikena Oncology in the 2nd quarter valued at approximately $75,000. 75.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on IKNA shares. Wedbush reaffirmed a “neutral” rating and set a $2.00 target price on shares of Ikena Oncology in a research note on Thursday, November 7th. HC Wainwright reiterated a “buy” rating and set a $4.00 price objective on shares of Ikena Oncology in a research report on Monday, November 11th.

Ikena Oncology Company Profile

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.