Group Iv Gp Lp Column Buys 89,200 Shares of Eikon Therapeutics (NASDAQ:EIKN) Stock

Key Points

• Group Iv Gp Lp Column purchased 89,200 Eikon Therapeutics shares at an average price of $11.56, investing approximately $1.03 million. The major shareholder disclosed the transaction in an SEC filing.
• Eikon shares recently traded at $10.71, with a market capitalization of about $580 million and a 52-week range of $7.90 to $17.40. The company reported quarterly EPS of negative $1.63, slightly below analyst expectations.
• Analyst sentiment is mixed, with five Buy, one Hold, and two Sell ratings, resulting in a consensus “Hold” rating and an average price target of $25.00. Several institutional investors also initiated or increased positions during the second quarter.

Eikon Therapeutics, Inc. (NASDAQ:EIKN - Get Free Report) major shareholder Group Iv Gp Lp Column bought 89,200 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was purchased at an average price of $11.56 per share, for a total transaction of $1,031,152.00. Following the completion of the purchase, the insider directly owned 89,200 shares in the company, valued at $1,031,152. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Eikon Therapeutics Stock Performance

Shares of NASDAQ:EIKN traded down $0.15 during midday trading on Tuesday, hitting $10.71. The company's stock had a trading volume of 462,105 shares, compared to its average volume of 382,953. The stock's 50 day simple moving average is $10.60 and its 200 day simple moving average is $10.92. The stock has a market capitalization of $580.16 million and a price-to-earnings ratio of -2.62. Eikon Therapeutics, Inc. has a fifty-two week low of $7.90 and a fifty-two week high of $17.40.

Eikon Therapeutics (NASDAQ:EIKN - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($1.63) earnings per share for the quarter, missing the consensus estimate of ($1.61) by ($0.02). As a group, analysts anticipate that Eikon Therapeutics, Inc. will post -7.24 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on EIKN shares. Weiss Ratings raised shares of Eikon Therapeutics from a "sell (e-)" rating to a "sell (e)" rating in a report on Monday, August 3rd. Wedbush cut their price objective on shares of Eikon Therapeutics from $5.00 to $4.00 and set an "underperform" rating for the company in a research report on Friday, August 14th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Eikon Therapeutics in a research report on Friday, August 21st. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Eikon Therapeutics has a consensus rating of "Hold" and an average price target of $25.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EIKN. Legal & General Group Plc acquired a new position in Eikon Therapeutics in the second quarter valued at about $28,000. California State Teachers Retirement System acquired a new stake in shares of Eikon Therapeutics in the second quarter valued at about $51,000. Citadel Advisors LLC acquired a new stake in shares of Eikon Therapeutics in the 2nd quarter valued at approximately $170,000. Deutsche Bank AG acquired a new stake in Eikon Therapeutics in the second quarter valued at $281,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Eikon Therapeutics by 23.5% during the second quarter. The Manufacturers Life Insurance Company now owns 35,357 shares of the company's stock worth $461,000 after purchasing an additional 6,734 shares during the period.

About Eikon Therapeutics

We are a late-stage clinical biopharmaceutical company dedicated to building a global, fully-integrated organization developing important, innovative medicines to address serious unmet medical needs. We are led by world-renowned drug developers Dr. Roger M. Perlmutter, M.D., Ph.D., and Dr. Roy Baynes, M.D., Ph.D. Our vision is to become a generational leader, by purposefully integrating traditional biology research with advanced engineering to develop better medicines faster. Our initial focus is oncology, where we are advancing a pipeline of drug candidates targeting areas of high unmet need in large indications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.