Suvretta Capital Management LLC Buys Shares of 3,700,000 Whitehawk Therapeutics, Inc. $WHWK

Key Points

• Suvretta Capital Management bought 3,700,000 shares of Whitehawk Therapeutics (≈$7.03 million) in Q3 and ended the period owning 7.85% of the company.
• Several other institutions including Avoro, Vanguard and Dimensional also initiated or increased stakes, leaving institutional ownership at about 52.08%.
• Whitehawk has a market cap of about $184.3 million, reported Q1 EPS of ($0.34) which beat estimates by $0.21, and carries a mixed analyst view with a consensus target of $6.50 (average rating: Hold).

Suvretta Capital Management LLC purchased a new position in shares of Whitehawk Therapeutics, Inc. (NASDAQ:WHWK - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,700,000 shares of the company's stock, valued at approximately $7,030,000. Suvretta Capital Management LLC owned 7.85% of Whitehawk Therapeutics at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of WHWK. Avoro Capital Advisors LLC acquired a new position in Whitehawk Therapeutics in the third quarter valued at approximately $5,414,000. Vanguard Group Inc. bought a new position in shares of Whitehawk Therapeutics in the 3rd quarter worth $2,552,000. Peapod Lane Capital LLC bought a new position in shares of Whitehawk Therapeutics in the 3rd quarter worth $577,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Whitehawk Therapeutics during the third quarter worth $84,000. 52.08% of the stock is owned by institutional investors.

Whitehawk Therapeutics Stock Up 0.3%

WHWK opened at $3.91 on Friday. The stock has a market cap of $184.28 million, a P/E ratio of 8.32 and a beta of 0.51. Whitehawk Therapeutics, Inc. has a 12 month low of $1.39 and a 12 month high of $4.48. The company has a fifty day simple moving average of $3.02 and a 200 day simple moving average of $2.48.

Whitehawk Therapeutics (NASDAQ:WHWK - Get Free Report) last posted its earnings results on Thursday, March 12th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.21.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WHWK. JonesTrading started coverage on Whitehawk Therapeutics in a research note on Monday, December 22nd. They issued a "buy" rating and a $7.00 target price on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Whitehawk Therapeutics in a research report on Monday, December 29th. Finally, Oppenheimer initiated coverage on shares of Whitehawk Therapeutics in a research report on Thursday, February 5th. They issued an "outperform" rating and a $6.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $6.50.

About Whitehawk Therapeutics

Aadi Bioscience, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing precision therapies for genetically defined cancers with alterations in mTOR pathway genes. Its lead drug candidate, FYARRO is a form of sirolimus bound to albumin. Aadi is evaluating FYARRO in cancers with known mTOR pathway activation, including tumor agnostic indications targeting specific genomic alterations that activate the mTOR pathway. The company was incorporated in 2007 and is headquartered in Pacific Palisades, California.

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