Ikena Oncology, Inc. (NASDAQ:IKNA) Sees Significant Decrease in Short Interest

Ikena Oncology, Inc. (NASDAQ:IKNA - Get Free Report) was the target of a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 80,100 shares, a decline of 30.8% from the May 15th total of 115,700 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily trading volume, of 97,700 shares, the short-interest ratio is presently 0.8 days.

Ikena Oncology Price Performance

NASDAQ IKNA opened at $1.41 on Tuesday. The stock has a market capitalization of $68.04 million, a price-to-earnings ratio of -1.15 and a beta of 0.45. Ikena Oncology has a 1-year low of $0.97 and a 1-year high of $1.94. The business's fifty day moving average price is $1.20 and its 200-day moving average price is $1.37.

Ikena Oncology (NASDAQ:IKNA - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, beating analysts' consensus estimates of ($0.21) by $0.03. Equities research analysts anticipate that Ikena Oncology will post -0.91 EPS for the current year.

Hedge Funds Weigh In On Ikena Oncology

Several institutional investors have recently made changes to their positions in the business. BML Capital Management LLC grew its position in Ikena Oncology by 3.5% during the first quarter. BML Capital Management LLC now owns 3,710,803 shares of the company's stock valued at $4,750,000 after buying an additional 124,937 shares during the period. Gilead Sciences Inc. purchased a new position in shares of Ikena Oncology during the 4th quarter worth $3,294,000. Geode Capital Management LLC boosted its stake in shares of Ikena Oncology by 21.0% during the 4th quarter. Geode Capital Management LLC now owns 327,962 shares of the company's stock worth $538,000 after acquiring an additional 56,936 shares during the last quarter. Aldebaran Capital LLC bought a new stake in shares of Ikena Oncology during the 1st quarter valued at $317,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Ikena Oncology by 18,244.1% in the 4th quarter. JPMorgan Chase & Co. now owns 155,741 shares of the company's stock worth $255,000 after purchasing an additional 154,892 shares in the last quarter. Institutional investors own 75.00% of the company's stock.

About Ikena Oncology

Ikena Oncology, Inc operates as an oncology company that develops differentiated therapies for patients in need that target nodes of cancer growth, spread, and therapeutic resistance in the United States. Its lead program is IK-930, an internally discovered, oral, TEAD1-selective, small molecule inhibitor of the Hippo pathway.

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