State Street Corp Acquires New Position in Eikon Therapeutics, Inc. $EIKN

Key Points

• State Street acquired 354,093 Eikon Therapeutics shares in the second quarter, valued at approximately $4.62 million and representing about 0.65% of the company. Several other institutional investors also established new positions.
• Major shareholder Group IV GP LP Column purchased 89,200 shares for roughly $1.03 million. The insider transaction was disclosed in a filing with the SEC.
• Eikon shares opened at $7.92 after falling 4.5%, near their 12-month low of $7.72. The company missed quarterly EPS expectations, while analysts maintained a “Moderate Buy” consensus with a $25 average price target.

State Street Corp acquired a new position in shares of Eikon Therapeutics, Inc. (NASDAQ:EIKN - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 354,093 shares of the company's stock, valued at approximately $4,621,000. State Street Corp owned about 0.65% of Eikon Therapeutics at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company acquired a new position in shares of Eikon Therapeutics during the 2nd quarter valued at $461,000. Integrated Wealth Concepts LLC bought a new position in Eikon Therapeutics in the 2nd quarter worth $142,000. Citadel Advisors LLC acquired a new position in shares of Eikon Therapeutics during the second quarter valued at about $170,000. Comprehensive Financial Management LLC bought a new position in Eikon Therapeutics in the second quarter worth $1,517,000. Finally, Parkman Healthcare Partners LLC bought a new stake in shares of Eikon Therapeutics in the 2nd quarter valued at approximately $3,341,000.

Insider Buying and Selling at Eikon Therapeutics

In related news, major shareholder Group Iv Gp Lp Column purchased 89,200 shares of the stock in a transaction dated Thursday, September 3rd. The stock was bought at an average cost of $11.56 per share, for a total transaction of $1,031,152.00. Following the completion of the acquisition, the insider owned 89,200 shares of the company's stock, valued at approximately $1,031,152. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Eikon Therapeutics Trading Down 4.5%

Shares of NASDAQ:EIKN opened at $7.92 on Friday. The firm has a 50 day moving average of $10.00 and a 200-day moving average of $10.39. Eikon Therapeutics, Inc. has a 12 month low of $7.72 and a 12 month high of $17.40. The stock has a market capitalization of $429.03 million and a PE ratio of -1.94.

Eikon Therapeutics (NASDAQ:EIKN - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($1.63) EPS for the quarter, missing analysts' consensus estimates of ($1.61) by ($0.02). On average, research analysts predict that Eikon Therapeutics, Inc. will post -7.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on EIKN. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Eikon Therapeutics in a report on Friday, August 21st. Weiss Ratings upgraded Eikon Therapeutics from a "sell (e-)" rating to a "sell (e)" rating in a research report on Monday, August 3rd. Wedbush cut 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 report on Friday, August 14th. Finally, Mizuho upgraded shares of Eikon Therapeutics to a "strong-buy" rating in a report on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Eikon Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.00.

Eikon Therapeutics Company Profile

Eikon Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines by combining advanced live-cell imaging with drug discovery and development. The company's platform is designed to track individual molecules and cellular processes in real time, providing researchers with detailed insight into how potential therapies work inside living cells.

Eikon applies this technology primarily to the development of treatments for serious diseases, including cancer and other conditions involving complex biological pathways.

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