Parkman Healthcare Partners LLC Purchases New Shares in Eikon Therapeutics, Inc. $EIKN

Key Points

• Parkman Healthcare Partners acquired 256,053 Eikon Therapeutics shares worth approximately $3.34 million, representing about 0.47% of the company. BlackRock also increased its position by 29% to more than 4.28 million shares.
• Analyst sentiment is mixed: five analysts rate Eikon a Buy, one rates it Hold, and two rate it Sell, producing an overall “Hold” consensus with an average price target of $25.00. Wedbush recently cut its target to $4.00 and maintained an Underperform rating.
• Eikon shares opened at $11.16, within a 52-week range of $7.90 to $17.40. The company reported a quarterly loss of $1.63 per share, slightly worse than the $1.61 consensus estimate.

Parkman Healthcare Partners LLC acquired a new stake in Eikon Therapeutics, Inc. (NASDAQ:EIKN - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 256,053 shares of the company's stock, valued at approximately $3,341,000. Parkman Healthcare Partners LLC owned approximately 0.47% of Eikon Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of EIKN. Legal & General Group Plc acquired a new stake in shares of Eikon Therapeutics during the 2nd quarter valued at about $28,000. Deutsche Bank AG purchased a new position in shares of Eikon Therapeutics in the 2nd quarter valued at about $281,000. The Manufacturers Life Insurance Company raised its holdings in Eikon Therapeutics by 23.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,357 shares of the company's stock worth $461,000 after purchasing an additional 6,734 shares during the period. Bank of New York Mellon Corp acquired a new position in Eikon Therapeutics in the 2nd quarter worth about $624,000. Finally, BlackRock Inc. boosted its position in Eikon Therapeutics by 29.0% during the second quarter. BlackRock Inc. now owns 4,281,425 shares of the company's stock worth $55,873,000 after purchasing an additional 962,046 shares in the last quarter.

Analyst Ratings Changes

Several analysts have commented on the company. Weiss Ratings raised Eikon Therapeutics from a "sell (e-)" rating to a "sell (e)" rating in a report on Monday, August 3rd. Cantor Fitzgerald reiterated an "overweight" rating on shares of Eikon Therapeutics in a research report on Friday. Finally, Wedbush dropped their price target on shares of Eikon Therapeutics from $5.00 to $4.00 and set an "underperform" rating on the stock in a research note on Friday, August 14th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $25.00.

Eikon Therapeutics Price Performance

Shares of NASDAQ:EIKN opened at $11.16 on Tuesday. Eikon Therapeutics, Inc. has a 1 year low of $7.90 and a 1 year high of $17.40. The firm has a market capitalization of $604.48 million and a price-to-earnings ratio of -2.73. The stock has a 50 day moving average price of $10.37.

Eikon Therapeutics (NASDAQ:EIKN - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($1.63) earnings per share for the quarter, missing the consensus estimate of ($1.61) by ($0.02). On average, analysts forecast that Eikon Therapeutics, Inc. will post -7.24 earnings per share for the current year.

About Eikon Therapeutics

We are a late-stage clinical biopharmaceutical company dedicated to building a global, fully-integrated organization developing important, innovative medicines to address serious unmet medical needs. We are led by world-renowned drug developers Dr. Roger M. Perlmutter, M.D., Ph.D., and Dr. Roy Baynes, M.D., Ph.D. Our vision is to become a generational leader, by purposefully integrating traditional biology research with advanced engineering to develop better medicines faster. Our initial focus is oncology, where we are advancing a pipeline of drug candidates targeting areas of high unmet need in large indications.

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