Ally Bridge Group NY LLC purchased a new position in Inhibikase Therapeutics, Inc. (NASDAQ:IKT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,325,000 shares of the company's stock, valued at approximately $2,226,000. Inhibikase Therapeutics accounts for approximately 1.8% of Ally Bridge Group NY LLC's portfolio, making the stock its 21st largest position. Ally Bridge Group NY LLC owned approximately 1.00% of Inhibikase Therapeutics at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Siren L.L.C. bought a new stake in shares of Inhibikase Therapeutics during the 4th quarter valued at $11,992,000. Squadron Capital Management LLC purchased a new stake in Inhibikase Therapeutics during the 4th quarter worth about $8,661,000. Spruce Street Capital LP bought a new position in Inhibikase Therapeutics in the 4th quarter worth about $7,342,000. ADAR1 Capital Management LLC boosted its stake in Inhibikase Therapeutics by 53.7% in the 4th quarter. ADAR1 Capital Management LLC now owns 8,063,949 shares of the company's stock worth $16,531,000 after purchasing an additional 2,816,346 shares during the period. Finally, Kalehua Capital Management LLC grew its holdings in Inhibikase Therapeutics by 118.4% during the 1st quarter. Kalehua Capital Management LLC now owns 3,821,890 shares of the company's stock valued at $6,421,000 after buying an additional 2,071,890 shares in the last quarter. 3.81% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the company. LADENBURG THALM/SH SH upgraded Inhibikase Therapeutics to a "strong-buy" rating in a research report on Monday, July 13th. Oppenheimer initiated coverage on shares of Inhibikase Therapeutics in a research report on Wednesday, June 10th. They issued an "outperform" rating and a $5.00 price objective for the company. Wall Street Zen raised shares of Inhibikase Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Sunday. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Inhibikase Therapeutics in a report on Friday, July 17th. Four equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $5.40.
Read Our Latest Report on IKT
Inhibikase Therapeutics Stock Down 1.7%
NASDAQ:IKT opened at $2.31 on Wednesday. The business's 50-day moving average price is $1.89 and its two-hundred day moving average price is $1.82. Inhibikase Therapeutics, Inc. has a twelve month low of $1.33 and a twelve month high of $2.53. The stock has a market cap of $304.99 million, a P/E ratio of -5.37 and a beta of 0.94.
Inhibikase Therapeutics (NASDAQ:IKT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). On average, equities research analysts expect that Inhibikase Therapeutics, Inc. will post -0.42 EPS for the current fiscal year.
About Inhibikase Therapeutics
(
Free Report)
Inhibikase Therapeutics, Inc, a clinical stage pharmaceutical company, develops therapeutics for Parkinson's Disease (PD) and related disorders that arise inside and outside of the brain. The company's product candidates include IkT-148009, a small molecule Abelson tyrosine kinase inhibitor for use in the treatment of PD, as well as gastrointestinal complications that arise as early symptoms of PD, such as swallowing, dysphagia, neurogenic constipation, and multiple system atrophy; and IkT-001Pro, a prodrug of the anti-cancer agent Imatinib that is in preclinical development to minimize gastrointestinal side effects and for the treatment of blood and stomach cancers.
See Also
Want to see what other hedge funds are holding IKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Inhibikase Therapeutics, Inc. (NASDAQ:IKT - Free Report).
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