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

Ikena Oncology, Inc. (NASDAQ:IKNA) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 393,700 shares, a decline of 70.2% from the June 30th total of 1,320,000 shares. Based on an average daily volume of 318,100 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.7% of the company’s shares are sold short.

Ikena Oncology Stock Performance

Ikena Oncology stock traded up $0.02 during trading on Friday, reaching $1.70. The company had a trading volume of 127,350 shares, compared to its average volume of 345,881. Ikena Oncology has a 12-month low of $1.02 and a 12-month high of $5.95. The stock’s 50 day moving average price is $1.65 and its two-hundred day moving average price is $1.50. The firm has a market capitalization of $82.04 million, a price-to-earnings ratio of -1.08 and a beta of 0.48.

Ikena Oncology (NASDAQ:IKNA) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.12. As a group, research analysts expect that Ikena Oncology will post -1.22 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on IKNA. HC Wainwright lowered their target price on shares of Ikena Oncology from $11.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. Wedbush downgraded shares of Ikena Oncology from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $8.00 to $2.00 in a report on Wednesday, May 29th.

Institutional Investors Weigh In On Ikena Oncology

Several institutional investors have recently bought and sold shares of IKNA. SG Americas Securities LLC grew its stake in Ikena Oncology by 88.5% during the fourth quarter. SG Americas Securities LLC now owns 20,222 shares of the company’s stock worth $40,000 after buying an additional 9,495 shares during the period. Vestal Point Capital LP purchased a new stake in Ikena Oncology during the fourth quarter worth approximately $636,000. BVF Inc. IL grew its stake in Ikena Oncology by 50.5% during the fourth quarter. BVF Inc. IL now owns 4,769,164 shares of the company’s stock worth $9,395,000 after buying an additional 1,600,000 shares during the period. Marquette Asset Management LLC purchased a new stake in Ikena Oncology during the first quarter worth approximately $104,000. Finally, Acadian Asset Management LLC grew its stake in Ikena Oncology by 1,201.8% during the first quarter. Acadian Asset Management LLC now owns 282,782 shares of the company’s stock worth $400,000 after buying an additional 261,060 shares during the period. 75.00% of the stock is currently owned by hedge funds and other institutional investors.

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.