Citizens Jmp Begins Coverage on Whitehawk Therapeutics (NASDAQ:WHWK)

Key Points

• Citizens Jmp initiated coverage on Whitehawk Therapeutics with a "market outperform" rating and an $8.00 price target, implying roughly a 105% upside from the prior close.
• The analyst consensus is a "Moderate Buy" with a $7.00 average price target; overall there are four Buy ratings, one Hold and one Sell on the stock.
• Insiders have sold significant stock recently—486,758 shares worth about $1.70M in the last 90 days (including sales by the CEO and Bryan Ball) reportedly to cover tax withholding—while corporate insiders still own 49.90% of the company.

Citizens Jmp assumed coverage on shares of Whitehawk Therapeutics (NASDAQ:WHWK - Get Free Report) in a research note issued to investors on Thursday,Benzinga reports. The firm set a "market outperform" rating and a $8.00 price target on the stock. Citizens Jmp's price objective indicates a potential upside of 105.13% from the stock's previous close.

WHWK has been the subject of a number of other reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Whitehawk Therapeutics in a research report on Friday, March 27th. Wall Street Zen lowered Whitehawk Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, April 11th. JonesTrading assumed coverage on Whitehawk Therapeutics in a research report on Monday, December 22nd. They issued a "buy" rating and a $7.00 price objective on the stock. Citigroup assumed coverage on Whitehawk Therapeutics in a research note on Thursday. They issued an "outperform" rating for the company. Finally, Oppenheimer began coverage on Whitehawk Therapeutics in a research report on Thursday, February 5th. They set an "outperform" rating and a $6.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Whitehawk Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.00.

Whitehawk Therapeutics Price Performance

WHWK stock opened at $3.90 on Thursday. Whitehawk Therapeutics has a 1 year low of $1.39 and a 1 year high of $4.48. The stock's fifty day moving average price is $3.40 and its 200-day moving average price is $2.76. The company has a market cap of $184.07 million, a P/E ratio of 8.30 and a beta of 0.57.

Whitehawk Therapeutics (NASDAQ:WHWK - Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.55) by $0.21.

Insider Buying and Selling

In related news, insider Bryan Ball sold 92,460 shares of the company's stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $3.64, for a total transaction of $336,554.40. Following the sale, the insider owned 397,106 shares of the company's stock, valued at $1,445,465.84. This represents a 18.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO David James Lennon sold 14,500 shares of the stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $3.38, for a total transaction of $49,010.00. Following the transaction, the chief executive officer owned 518,622 shares of the company's stock, valued at $1,752,942.36. This trade represents a 2.72% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 486,758 shares of company stock worth $1,702,536. Corporate insiders own 49.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WHWK. Quadrature Capital Ltd bought a new stake in shares of Whitehawk Therapeutics in the 4th quarter valued at approximately $28,000. ABG Innovation Capital Partners III GP Ltd purchased a new stake in Whitehawk Therapeutics during the 3rd quarter valued at $51,000. Geode Capital Management LLC lifted its position in Whitehawk Therapeutics by 11.4% in the fourth quarter. Geode Capital Management LLC now owns 425,440 shares of the company's stock worth $1,030,000 after buying an additional 43,686 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in Whitehawk Therapeutics during the third quarter worth $84,000. Finally, Jane Street Group LLC lifted its stake in Whitehawk Therapeutics by 177.3% in the fourth quarter. Jane Street Group LLC now owns 69,931 shares of the company's stock worth $169,000 after purchasing an additional 44,716 shares during the last quarter. Hedge funds and other institutional investors own 52.08% of the company's stock.

About Whitehawk Therapeutics

Aadi Bioscience, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing precision therapies for genetically defined cancers with alterations in mTOR pathway genes. Its lead drug candidate, FYARRO is a form of sirolimus bound to albumin. Aadi is evaluating FYARRO in cancers with known mTOR pathway activation, including tumor agnostic indications targeting specific genomic alterations that activate the mTOR pathway. The company was incorporated in 2007 and is headquartered in Pacific Palisades, California.

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