Short Interest in Ikena Oncology, Inc. (NASDAQ:IKNA) Rises By 11.2%

Ikena Oncology, Inc. (NASDAQ:IKNA - Get Free Report) saw a large growth in short interest in April. As of April 15th, there was short interest totalling 1,390,000 shares, a growth of 11.2% from the March 31st total of 1,250,000 shares. Approximately 5.5% of the shares of the company are short sold. Based on an average daily trading volume, of 424,100 shares, the days-to-cover ratio is currently 3.3 days.

Ikena Oncology Stock Down 1.5 %

Shares of Ikena Oncology stock traded down $0.02 during trading hours on Wednesday, reaching $1.30. 129,325 shares of the stock traded hands, compared to its average volume of 355,393. The company has a 50 day moving average price of $1.40 and a 200 day moving average price of $1.85. The firm has a market capitalization of $62.74 million, a price-to-earnings ratio of -0.79 and a beta of 0.33. Ikena Oncology has a one year low of $1.02 and a one year high of $7.64.

Ikena Oncology (NASDAQ:IKNA - Get Free Report) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.41). The company had revenue of $0.66 million for the quarter, compared to the consensus estimate of $2.39 million. Sell-side analysts anticipate that Ikena Oncology will post -1.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

IKNA has been the subject of a number of recent research reports. HC Wainwright restated a "buy" rating and set a $11.00 price target on shares of Ikena Oncology in a research note on Tuesday, March 19th. Wedbush restated an "outperform" rating and set a $8.00 price target on shares of Ikena Oncology in a research note on Tuesday, March 12th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of Ikena Oncology during the 3rd quarter valued at approximately $46,000. OUP Management Co. LLC purchased a new position in Ikena Oncology in the 3rd quarter worth approximately $116,000. Bank of New York Mellon Corp lifted its holdings in Ikena Oncology by 11.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 69,239 shares of the company's stock worth $300,000 after purchasing an additional 6,901 shares in the last quarter. Barclays PLC lifted its holdings in Ikena Oncology by 2.1% in the 3rd quarter. Barclays PLC now owns 206,545 shares of the company's stock worth $894,000 after purchasing an additional 4,343 shares in the last quarter. Finally, Vestal Point Capital LP purchased a new position in Ikena Oncology in the 4th quarter worth approximately $636,000. 75.00% of the stock is currently owned by institutional investors.

Ikena Oncology Company Profile

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.