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

Key Points

• Short interest rose 12.4% to 780,056 shares as of April 15, equal to about 3.3% of shares sold short and a days-to-cover ratio of 3.7 based on average daily volume.
• Company insiders have sold significant stock to cover tax withholding—CEO David Lennon sold 102,395 shares and Bryan Ball sold 92,460—with insiders offloading 705,358 shares (~$2.58M) over the last 90 days while still owning 49.9% of the company.
• Shares opened at $4.01 with a 52-week range of $1.44–$4.48 and a market cap of $189.3M; the company beat quarterly EPS estimates and carries a consensus analyst rating of “Moderate Buy” with a $7.00 price target.

Whitehawk Therapeutics, Inc. (NASDAQ:WHWK - Get Free Report) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totaling 780,056 shares, a growth of 12.4% from the March 31st total of 693,909 shares. Based on an average daily volume of 213,098 shares, the days-to-cover ratio is presently 3.7 days. Currently, 3.3% of the company's stock are sold short.

Whitehawk Therapeutics Price Performance

NASDAQ WHWK opened at $4.01 on Friday. Whitehawk Therapeutics has a fifty-two week low of $1.44 and a fifty-two week high of $4.48. The stock's 50-day moving average is $3.68 and its two-hundred day moving average is $2.91. The firm has a market cap of $189.26 million, a P/E ratio of 8.53 and a beta of 0.57.

Whitehawk Therapeutics (NASDAQ:WHWK - Get Free Report) last posted its earnings results on Thursday, March 12th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.21. On average, equities analysts expect that Whitehawk Therapeutics will post -1.43 EPS for the current year.

Insider Buying and Selling at Whitehawk Therapeutics

In other Whitehawk Therapeutics news, CEO David James Lennon sold 102,395 shares of the business's stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $3.51, for a total value of $359,406.45. Following the transaction, the chief executive officer owned 691,154 shares in the company, valued at $2,425,950.54. The trade was a 12.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Bryan Ball sold 92,460 shares of the business's stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $3.64, for a total value of $336,554.40. Following the completion of the transaction, the insider owned 397,106 shares in the company, valued at $1,445,465.84. This trade represents a 18.89% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 705,358 shares of company stock worth $2,584,564 over the last 90 days. 49.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Whitehawk Therapeutics

A number of institutional investors have recently made changes to their positions in the business. KVP Capital Advisors LP bought a new position in shares of Whitehawk Therapeutics in the fourth quarter worth about $5,242,000. Quadrature Capital Ltd bought a new position in shares of Whitehawk Therapeutics in the fourth quarter worth about $28,000. Eversept Partners LP bought a new position in shares of Whitehawk Therapeutics in the fourth quarter worth about $630,000. ADAR1 Capital Management LLC bought a new position in shares of Whitehawk Therapeutics in the fourth quarter worth about $188,000. Finally, Marshall Wace LLP bought a new position in shares of Whitehawk Therapeutics in the fourth quarter worth about $164,000. 52.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WHWK has been the subject of several analyst reports. Citigroup started coverage on shares of Whitehawk Therapeutics in a research note on Thursday, April 16th. They issued an "outperform" rating for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Whitehawk Therapeutics in a report on Friday, March 27th. Oppenheimer began coverage on Whitehawk Therapeutics in a report on Thursday, February 5th. They set an "outperform" rating and a $6.00 target price on the stock. Citizens Jmp began coverage on Whitehawk Therapeutics in a report on Thursday, April 16th. They set a "market outperform" rating and a $8.00 target price on the stock. Finally, Wall Street Zen lowered Whitehawk Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $7.00.

Whitehawk Therapeutics Company Profile

Aadi Bioscience, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing precision therapies for genetically defined cancers with alterations in mTOR pathway genes. Its lead drug candidate, FYARRO is a form of sirolimus bound to albumin. Aadi is evaluating FYARRO in cancers with known mTOR pathway activation, including tumor agnostic indications targeting specific genomic alterations that activate the mTOR pathway. The company was incorporated in 2007 and is headquartered in Pacific Palisades, California.

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