Perceptive Advisors LLC Sells 3,106,568 Shares of Inhibikase Therapeutics, Inc. $IKT

Key Points

• Perceptive Advisors cut its Inhibikase Therapeutics stake by 57.3%, selling 3,106,568 shares and retaining 2,315,000 shares, worth approximately $3.89 million.
• Other institutional investors increased their positions, including Sands Capital Alternatives and ADAR1 Capital Management; institutional investors collectively own 3.81% of IKT.
• Analyst sentiment remains broadly positive, with an average “Buy” rating and a $5.40 target price, compared with the stock’s reported $2.18 opening price.

Perceptive Advisors LLC trimmed its position in shares of Inhibikase Therapeutics, Inc. (NASDAQ:IKT - Free Report) by 57.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,315,000 shares of the company's stock after selling 3,106,568 shares during the period. Perceptive Advisors LLC owned about 1.75% of Inhibikase Therapeutics worth $3,889,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Sands Capital Alternatives LLC boosted its stake in Inhibikase Therapeutics by 18.9% in the fourth quarter. Sands Capital Alternatives LLC now owns 13,018,965 shares of the company's stock worth $26,689,000 after buying an additional 2,068,965 shares in the last quarter. ADAR1 Capital Management LLC raised its stake in shares of Inhibikase Therapeutics by 53.7% during the fourth quarter. ADAR1 Capital Management LLC now owns 8,063,949 shares of the company's stock worth $16,531,000 after acquiring an additional 2,816,346 shares in the last quarter. Siren L.L.C. bought a new stake in shares of Inhibikase Therapeutics in the 4th quarter worth approximately $11,992,000. Commodore Capital LP lifted its holdings in shares of Inhibikase Therapeutics by 1.0% in the 2nd quarter. Commodore Capital LP now owns 5,397,488 shares of the company's stock worth $10,525,000 after acquiring an additional 53,056 shares during the last quarter. Finally, Squadron Capital Management LLC bought a new stake in shares of Inhibikase Therapeutics in the 4th quarter worth approximately $8,661,000. Institutional investors own 3.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. LADENBURG THALM/SH SH raised shares of Inhibikase Therapeutics to a "strong-buy" rating in a report on Monday, July 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Inhibikase Therapeutics in a research note on Friday, July 17th. HC Wainwright reissued a "buy" rating and issued a $8.00 price target on shares of Inhibikase Therapeutics in a research note on Friday. Wall Street Zen upgraded shares of Inhibikase Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Sunday, July 26th. Finally, Oppenheimer assumed coverage on Inhibikase Therapeutics in a research note on Wednesday, June 10th. They set an "outperform" rating and a $5.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $5.40.

Inhibikase Therapeutics Stock Performance

Shares of IKT stock opened at $2.18 on Friday. The company has a market capitalization of $287.83 million, a P/E ratio of -5.07 and a beta of 0.94. Inhibikase Therapeutics, Inc. has a fifty-two week low of $1.33 and a fifty-two week high of $2.53. The stock has a 50 day moving average price of $1.92 and a two-hundred day moving average price of $1.83.

Inhibikase Therapeutics (NASDAQ:IKT - Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10). As a group, equities analysts predict that Inhibikase Therapeutics, Inc. will post -0.42 earnings per share for the current year.

Inhibikase Therapeutics Company Profile

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.

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