Whitehawk Therapeutics, Inc. (NASDAQ:WHWK) Short Interest Update

Key Points

• Short interest fell 40.7% to 2.98 million shares as of August 31, representing 10.4% of shares outstanding and a 12.5-day days-to-cover ratio.
• Whitehawk shares declined 1.2% to $4.04, while the company reported a quarterly loss of $0.20 per share—better than the consensus estimate of a $0.30 loss.
• Analyst sentiment is generally positive, with a “Moderate Buy” consensus rating and an $8.20 target price; institutional investors own 52.08% of the company.

Whitehawk Therapeutics, Inc. (NASDAQ:WHWK - Get Free Report) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 2,981,829 shares, a drop of 40.7% from the August 15th total of 5,032,431 shares. Based on an average daily trading volume, of 238,372 shares, the days-to-cover ratio is currently 12.5 days. Currently, 10.4% of the company's shares are short sold.

Whitehawk Therapeutics Stock Down 1.2%

Shares of NASDAQ:WHWK traded down $0.05 during trading on Wednesday, hitting $4.04. The stock had a trading volume of 170,642 shares, compared to its average volume of 315,844. The company has a market capitalization of $230.32 million, a PE ratio of -3.61 and a beta of 0.81. The firm's fifty day moving average is $4.29 and its 200 day moving average is $4.12. Whitehawk Therapeutics has a 12 month low of $1.82 and a 12 month high of $5.49.

Whitehawk Therapeutics (NASDAQ:WHWK - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.10. Equities research analysts expect that Whitehawk Therapeutics will post -1.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WHWK has been the topic of several research analyst reports. Wall Street Zen raised Whitehawk Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Whitehawk Therapeutics in a report on Wednesday, September 2nd. Leerink Partners started coverage on shares of Whitehawk Therapeutics in a research report on Monday, July 13th. They set an "outperform" rating and a $9.00 price objective on the stock. Finally, B. Riley Financial began coverage on shares of Whitehawk Therapeutics in a report on Thursday, June 25th. They issued a "buy" rating and a $10.00 price objective for the company. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $8.20.

Institutional Investors Weigh In On Whitehawk Therapeutics

Several hedge funds have recently bought and sold shares of WHWK. Two Sigma Securities LLC bought a new stake in shares of Whitehawk Therapeutics in the 2nd quarter worth approximately $46,000. OMERS ADMINISTRATION Corp bought a new position in Whitehawk Therapeutics during the 1st quarter valued at approximately $40,000. Deutsche Bank AG purchased a new position in Whitehawk Therapeutics during the second quarter valued at $145,000. Bank of America Corp DE bought a new stake in Whitehawk Therapeutics in the second quarter worth $159,000. Finally, Eversept Partners LP boosted its holdings in Whitehawk Therapeutics by 17.9% in the first quarter. Eversept Partners LP now owns 306,800 shares of the company's stock worth $1,058,000 after acquiring an additional 46,541 shares in the last quarter. Institutional investors own 52.08% of the company's stock.

About Whitehawk Therapeutics

Whitehawk Therapeutics NASDAQ: WHWK is a clinical-stage biopharmaceutical company focused on developing new medicines for cancer. Its research is centered on antibody-drug conjugates, which are designed to use targeted antibodies to deliver cancer-killing agents directly to tumor cells.

The company is advancing a pipeline of oncology therapies intended to address cancers with significant unmet medical needs. Its activities include drug discovery, preclinical research and clinical development, with programs designed to evaluate the safety and potential effectiveness of its targeted therapeutic candidates.

Whitehawk Therapeutics is an early-stage biotechnology company, and its pipeline remains subject to the clinical, regulatory and commercialization risks associated with developing experimental medicines.

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