Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Short Interest Up 52.2% in February

Key Points

• Short interest rose 52.2% in February to 16,041,114 shares, representing about 23.0% of the company's shares short and a short-interest ratio of roughly 4.6 days based on average daily volume.
• Despite the heavy shorting, analysts' consensus is a Buy with an average target price of $5.50, while the stock trades near $2.00 and the company has a market cap of about $150 million.

Inhibikase Therapeutics, Inc. (NASDAQ:IKT - Get Free Report) was the target of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 16,041,114 shares, an increase of 52.2% from the February 12th total of 10,541,776 shares. Currently, 23.0% of the shares of the company are short sold. Based on an average daily volume of 3,478,233 shares, the short-interest ratio is presently 4.6 days. Based on an average daily volume of 3,478,233 shares, the short-interest ratio is presently 4.6 days. Currently, 23.0% of the shares of the company are short sold.

Institutional Trading of Inhibikase Therapeutics

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its position in Inhibikase Therapeutics by 70.3% in the third quarter. BNP Paribas Financial Markets now owns 15,640 shares of the company's stock valued at $25,000 after acquiring an additional 6,458 shares during the last quarter. Barclays PLC lifted its holdings in shares of Inhibikase Therapeutics by 10.8% in the fourth quarter. Barclays PLC now owns 94,795 shares of the company's stock worth $194,000 after acquiring an additional 9,217 shares during the last quarter. Virtu Financial LLC boosted its stake in shares of Inhibikase Therapeutics by 70.1% in the 4th quarter. Virtu Financial LLC now owns 22,869 shares of the company's stock valued at $47,000 after purchasing an additional 9,423 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Inhibikase Therapeutics in the 4th quarter valued at approximately $26,000. Finally, Geode Capital Management LLC grew its holdings in shares of Inhibikase Therapeutics by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 1,128,239 shares of the company's stock valued at $2,313,000 after purchasing an additional 15,665 shares during the last quarter. 3.81% of the stock is owned by institutional investors and hedge funds.

Inhibikase Therapeutics Stock Performance

Shares of IKT stock opened at $2.00 on Friday. Inhibikase Therapeutics has a fifty-two week low of $1.33 and a fifty-two week high of $2.58. The firm has a fifty day simple moving average of $1.78. The firm has a market cap of $150.36 million, a P/E ratio of -5.13 and a beta of 0.76.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IKT shares. Zacks Research raised shares of Inhibikase Therapeutics to a "hold" rating in a report on Tuesday, December 2nd. Wall Street Zen upgraded Inhibikase Therapeutics to a "sell" rating in a research note on Saturday, December 27th. HC Wainwright reissued a "buy" rating and set a $8.00 price target on shares of Inhibikase Therapeutics in a research report on Friday, December 26th. Bank of America initiated coverage on Inhibikase Therapeutics in a research note on Wednesday, January 21st. They set a "buy" rating and a $6.00 price objective on the stock. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Inhibikase Therapeutics in a report on Monday, December 29th. Four investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Inhibikase Therapeutics presently has an average rating of "Buy" and an average target price of $5.50.

About Inhibikase Therapeutics

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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