Stonepine Capital Management LLC Cuts Stock Holdings in Inhibikase Therapeutics, Inc. $IKT

Key Points

• Stonepine Capital Management LLC has reduced its stake in Inhibikase Therapeutics by 19.2%, selling 217,415 shares during the first quarter, leaving it with 914,973 shares valued at approximately $2 million.
• Inhibikase Therapeutics has seen a rise of 12.5% in stock price, currently trading at $1.89, with a 12-month range between $1.12 and $4.20.
• The company is focused on developing therapeutics for Parkinson's disease, with its lead product candidate, IkT-148009, currently in Phase 2a clinical trials.

Stonepine Capital Management LLC cut its stake in Inhibikase Therapeutics, Inc. (NYSE:IKT - Free Report) by 19.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 914,973 shares of the company's stock after selling 217,415 shares during the period. Inhibikase Therapeutics accounts for about 1.9% of Stonepine Capital Management LLC's portfolio, making the stock its 17th largest position. Stonepine Capital Management LLC owned about 1.23% of Inhibikase Therapeutics worth $2,004,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Northern Trust Corp acquired a new stake in Inhibikase Therapeutics in the 4th quarter worth approximately $208,000. Stifel Financial Corp acquired a new stake in Inhibikase Therapeutics during the 4th quarter valued at approximately $43,000. Squarepoint Ops LLC acquired a new stake in Inhibikase Therapeutics during the 4th quarter valued at approximately $92,000. Millennium Management LLC acquired a new stake in Inhibikase Therapeutics during the 4th quarter valued at approximately $462,000. Finally, Blackstone Inc. acquired a new stake in Inhibikase Therapeutics during the 4th quarter valued at approximately $6,730,000. 3.81% of the stock is currently owned by institutional investors and hedge funds.

Inhibikase Therapeutics Trading Up 4.5%

NYSE IKT traded up $0.08 on Tuesday, hitting $1.84. 68,777 shares of the company's stock traded hands, compared to its average volume of 190,590. Inhibikase Therapeutics, Inc. has a 1-year low of $1.12 and a 1-year high of $4.20. The firm's 50-day moving average price is $1.77 and its two-hundred day moving average price is $2.01. The firm has a market capitalization of $137.11 million, a PE ratio of -0.69 and a beta of 0.90.

Inhibikase Therapeutics Profile

Inhibikase Therapeutics, Inc, a clinical-stage pharmaceutical company, develops therapeutics for Parkinson's disease and related disorders. Its lead product candidate is IkT-148009, a non-receptor Abelson tyrosine kinase inhibitor, which is in Phase 2a clinical trials to the treatment of Parkinson's disease and gastrointestinal tract.